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April 29, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > Grocery And Related Products Wholesalers Loan | ||||
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Excelsior, Minnesota Bank for SBA Loans
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Anchor Bank Gives SBA Loan to Grocery And Related Products Wholesalers CompanyWant a Minnesota small business loan? This Minnesota entrepreneur got a small business loan, provided by a Minnesota bank that works with the SBA to help small business owners. Getting a small business loan in Excelsior, Minnesota was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Anchor Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS SBA Loan Lender ANCHOR BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422490 - Grocery and Related Products Wholesalers Loan Approval Date 7/19/2001 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 4 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Wayzata, Minnesota
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