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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Oakdale, Business Loans > Prosperan Bank Oakdale Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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MN Business Loan from Prosperan Bank
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Business Loan from Prosperan Bank Given to Sporting And Recreational Goods And Supplies Merchant Wholesalers CompanyProsperan Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in North St. Paul, Minnesota was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Prosperan Bank, operating out of Oakdale, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender PROSPERAN BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 5/20/2005 Loan Approval Gross Amount $102,700 Loan Approval from the SBA Of the total $102,700 loan amount, the SBA guaranteed $87,295. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 Where to Get an SBA Loan in Oakdale, Minnesota
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