Entrepreneur Works With Bloomington, Minnesota Bank to Get an SBA Loan

Want to talk with a Bloomington, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Bloomington bank, that was approved by the SBA.

Applying for an SBA loan with Venture Bank worked out well for our friends at one local business in Andover, Minnesota. They received an SBA loan for $150,000. Great job!

SBA Loan Borrower

COMPANY TYPE: DENTAL EQUIPMENT AND SUPPLIES MANUFACTURING
ANDOVER, MN 55304

SBA Loan Lender

VENTURE BANK
5601 GREEN VALLEY DR, STE 120
BLOOMINGTON, MN 55437

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339114 - Dental Equipment and Supplies Manufacturing

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Andover MN, you ought to talk with a local Andover SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Andover businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Venture Bank and they will explain how you can get an SBA loan for your company.

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:

Dealing With Venture Capitalists

Best Banks for Small Business in Bloomington, Minnesota

Getting a Business Loan in Minnesota