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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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How to Get a Business Loan in Blaine, Minnesota
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Anchor Bank Gives Bank Loan to Nondurable Goods Merchant Wholesalers CompanyLooking to get 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. By giving the right information to Anchor Bank, this Blaine, Minnesota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender ANCHOR 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 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 8/11/2005 Loan Approval Gross Amount $523,500 Loan Approval from the SBA Of the total $523,500 loan amount, the SBA guaranteed $392,625. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Anchor 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: The Friends and Family Network Find an SBA Lender in Wayzata, Minnesota SBA Participating Banks in Minnesota
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