Peoples Bank Of Commerce SBA Loan to No Industry Type Specified Company

Searching for a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burnsville, Minnesota was able to borrow $250,000 from Peoples Bank Of Commerce. The SBA made the loan possible by guaranteeing $125,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BURNSVILLE, MN 55337

SBA Loan Lender

PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561310 -

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 140 employees. The loan application indicated that the loan would help retain 140 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Peoples Bank Of Commerce 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.

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