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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Private Bank Minnesota Minneapolis Business Loans > Bread, Cake, And Related Bakery Products Loan | ||||
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Private Bank Minnesota Business Loan Minneapolis, Minnesota
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Private Bank Minnesota SBA Loan to Bread, Cake, And Related Bakery Products CompanyPrivate Bank Minnesota and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Minneapolis, Minnesota was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Private Bank Minnesota, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS SBA Loan Lender PRIVATE BANK MINNESOTA This lender provides SBA 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. SIC Code 2051 - Bread, Cake, and Related Bakery Products NAICS Code 311812 - Commercial Bakeries Loan Approval Date 8/31/2000 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $36,000. 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 60 employees. The SBA loan documents indicated that the loan would help retain 60 existing jobs. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Private Bank Minnesota and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Who Lends Money to Small Businesses in Minneapolis, Minnesota
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