White Bear Lake, Minnesota Entrepreneur Gets an SBA Loan

Want a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in White Bear Lake, Minnesota was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Landmark Commun Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
WHITE BEAR LAKE, MN 55110

SBA Loan Lender

LANDMARK COMMUN BANK
14150 ST FRANCIS BLVD NW
RAMSEY, MN 55303

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423320 - Brick, Stone, and Related Construction Material Merchant Wholesalers

Loan Approval Date

7/8/2005

Loan Approval Gross Amount

$407,000

Loan Approval from the SBA

Of the total $407,000 loan amount, the SBA guaranteed $305,250.

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 9 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Financing Your Business

Small Business Banks in Ramsey, Minnesota

Minnesota SBA Banks