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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 > Office Equipment Merchant Wholesalers Loan | ||||
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SBA Lender Saint Paul, Minnesota
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Saint Paul, Minnesota Bank Gives SBA Loan to Office Equipment Merchant Wholesalers CompanyWant to talk with a Saint Paul, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA. Applying for an SBA loan with Park Midway Bank worked out well for our friends at one local business in Minneapolis, Minnesota. The business was able to get an SBA loan for $125,000. Nice! SBA Loan Borrower COMPANY TYPE: OFFICE EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender PARK MIDWAY 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 423420 - Office Equipment Merchant Wholesalers Loan Approval Date 8/7/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Park Midway Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Raising VC Money for Social Networking Companies SBA 7A Banks in Saint Paul, Minnesota
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