Anoka, Minnesota Bank Lends Money to Electrical And Electronic Repair Shops Company in Zimmermann, Minnesota

Get small business loans from an Anoka, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

1st National Bank - Elk River is a Anoka, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL AND ELECTRONIC REPAIR SHOPS
ZIMMERMANN, MN 55398

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
1121 W HWY 10
ANOKA, MN 55303

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7629 - Electrical and Electronic Repair Shops

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

11/30/2001

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $50,999.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Anoka, Minnesota

SBA Lenders in Minnesota