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May 3, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > American Bank Of St. Paul Saint Paul Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lenders for St. Paul, Minnesota Small Business Owners
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St. Paul, Minnesota Entrepreneur Gets an SBA LoanMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in St. Paul, Minnesota was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of St. Paul. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMERICAN BANK OF ST. PAUL As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/1/2006 Loan Approval Gross Amount $880,000 Loan Approval from the SBA Of the total $880,000 loan amount, the SBA guaranteed $660,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower indicated that the loan would help create 35 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Good Banks for Small Business in Saint Paul, Minnesota
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