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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Food Stores Loan | ||||
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Who Lends Money to Minneapolis Small Businesses
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Park Midway Bank Gives SBA Loan to Food Stores CompanyWould a Minnesota small business loan help your small business to grow and prosper? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs. By giving the right information to Park Midway Bank, this Minneapolis, Minnesota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender PARK MIDWAY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5499 - Food Stores NAICS Code 445299 - Specialty Food Stores Loan Approval Date 8/26/2002 Loan Approval Gross Amount $130,500 Loan Approval from the SBA Of the total $130,500 loan amount, the SBA guaranteed $110,925. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Role of Business Plan When Raising Money SBA 7A Banks for Saint Paul, Minnesota Loans
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