American Bank Of St. Paul SBA Loan to Electronic And Precision Equipment Repair And Maintenance Company

American Bank Of St. Paul 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.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with American Bank Of St. Paul, out of Saint Paul, Minnesota. The loan was granted and they received $117,000 to help grow their St. Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC AND PRECISION EQUIPMENT REPAIR AND MAINTENANCE
ST. PAUL, MN 55102

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811219 - Electronic and Precision Equipment Repair and Maintenance

Loan Approval Date

5/23/2006

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $99,450.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help create 1 new job.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in St. Paul MN, you ought to talk with a local St. Paul SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St. Paul businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American Bank Of St. Paul had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American Bank Of St. 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:

Bank Credit Lines

Where to Get an SBA Loan in Saint Paul, Minnesota

Minnesota SBA Bank Lenders