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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 > Anchor Bank Saint Paul Saint Paul Business Loans > Industrial Machinery And Equipment Loan | ||||
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Minnesota SBA Loan from Anchor Bank Saint Paul
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SBA Loan from Anchor Bank Saint Paul Helps Industrial Machinery And Equipment CompanyAnchor Bank Saint Paul has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Anchor Bank Saint Paul, out of Saint Paul, Minnesota. The loan was granted and they received $50,000 to help grow their Minneapolis, Minnesota business. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender ANCHOR BANK SAINT PAUL This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5084 - Industrial Machinery and Equipment NAICS Code 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 8/22/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Anchor Bank Saint Paul had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Anchor Bank Saint Paul 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: Role of Business Plan When Raising Money SBA Participating Banks in Saint Paul, Minnesota
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