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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > North Saint Paul, Business Loans > Anchor Bank Heritage North Saint Paul Business Loans > Nonupholstered Wood Household Furniture Manufacturing Loan | ||||
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Minnesota SBA Lenders
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North Saint Paul, Minnesota Bank Gives SBA Loan to Nonupholstered Wood Household Furniture Manufacturing CompanyGet to know North Saint Paul, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Anchor Bank Heritage is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in St. Paul, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Anchor Bank Heritage. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender ANCHOR BANK HERITAGE This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337122 - Nonupholstered Wood Household Furniture Manufacturing Loan Approval Date 10/22/2001 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 42 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in North Saint Paul, Minnesota
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