Growing Company Gets a Minnesota SBA Loan

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

This small business, based in Blaine, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from 21st Century Bank. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
BLAINE, MN 55449

SBA Loan Lender

21ST CENTURY BANK
9380 CENTRAL AVE NE
BLAINE, MN 55434

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 business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

9/9/2005

Loan Approval Gross Amount

$312,000

Loan Approval from the SBA

Of the total $312,000 loan amount, the SBA guaranteed $234,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from 21st Century 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.

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SBA Lenders in Minnesota