Ham Lake, Minnesota Business Gets SBA-Guaranteed Funding from Community Pride Bank

Community Pride Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community Pride Bank, out of Isanti, Minnesota. The loan was granted and they received $200,000 to help grow their Ham Lake, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS MERCHANT WHOLESALERS
HAM LAKE, MN 55304

SBA Loan Lender

COMMUNITY PRIDE BANK
901 NICKLAUS COURT
ISANTI, MN 55040

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424690 - Chemical and Allied Products Merchant Wholesalers

Loan Approval Date

12/13/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 10 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

Strategic Investors

Small Bank Loans in Isanti, Minnesota

Browse All Business Loan Sources for Minnesota