Get an SBA Loan for Commercial Equipment Merchant Wholesalers

With these small business loans for commercial equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This commercial equipment merchant wholesalers loan for $150,000 was given to a Minnesota entrepreneur in 2003.

Getting a small business loan in Burnsville, Minnesota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank, operating out of Spicer, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS
BURNSVILLE, MN 55337

SBA Loan Lender

HERITAGE BANK
110 SOUTH ST WEST
SPICER, MN 56288

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423440 - Commercial Equipment Merchant Wholesalers

Loan Approval Date

7/25/2003

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 a new 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 2 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

Direct Public Offerings

SBA Approved Banks in Spicer, Minnesota

Minnesota SBA 7A Banks