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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > Apprenticeship Training Loan | ||||
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Banks in Wayzata, Minnesota That Make SBA Loans
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Entrepreneur Works With Wayzata, Minnesota Bank to Get an SBA LoanWant to talk with a Wayzata, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Wayzata bank, that was approved by the SBA. Applying for an SBA loan with Anchor Bank worked out well for our friends at one local business in Lakeville, Minnesota. The business was able to get an SBA loan for $50,000. Great job! SBA Loan Borrower COMPANY TYPE: APPRENTICESHIP TRAINING SBA Loan Lender ANCHOR BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611513 - Apprenticeship Training Loan Approval Date 6/14/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $37,500. 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 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Anchor Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Anchor Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Borrowing Money from Friends and Family SBA 7A Lenders in Wayzata, Minnesota
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