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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Household Appliance Stores Loan | ||||
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Raising Money in Burnsville, Minnesota With SBA Loans
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How to Get a Loan for Household Appliance StoresLooking for commercial loans for household appliance stores? The SBA may be the answer. This $588,500 household appliance stores loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Burnsville, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Park Midway Bank, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD APPLIANCE STORES SBA Loan Lender PARK MIDWAY BANK This lender provides SBA business loans 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 443111 - Household Appliance Stores Loan Approval Date 6/13/2005 Loan Approval Gross Amount $588,500 Loan Approval from the SBA Of the total $588,500 loan amount, the SBA guaranteed $441,375. 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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: The Friends and Family Network SBA 7A Banks in Saint Paul, Minnesota Browse All Business Loan Sources for Minnesota
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