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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Michael, Business Loans > Highland Bank Saint Michael Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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How Do We Get a Business Loan in St. Paul, Minnesota?
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Gift, Novelty, and Souvenir Stores SBA LoansLooking for SBA loans for gift, novelty, and souvenir stores? An SBA loan may be just what you've been looking for. This $260,000 gift, novelty, and souvenir stores loan was issued by a Minnesota bank. Getting a small business loan in St. Paul, Minnesota was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Highland Bank, operating out of Saint Michael, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender HIGHLAND BANK 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 1/9/2006 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. 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 7 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 22 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Highland Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Saint Michael, Minnesota
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