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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Edina, Business Loans > Fidelity Bank Edina Business Loans > Home Furnishing Wholesalers Loan | ||||
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Best Banks for Entrepreneurs in Minnesota
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Firm Gets a Minnesota Business LoanMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. You can learn something about getting a small business loan in Chaska, Minnesota by studying this loan to a local company, made back in 2004. Banks like Fidelity Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: HOME FURNISHING WHOLESALERS SBA Loan Lender FIDELITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 421220 - Home Furnishing Wholesalers Loan Approval Date 5/5/2004 Loan Approval Gross Amount $650,000 Loan Approval from the SBA Of the total $650,000 loan amount, the SBA guaranteed $325,000. 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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $650,000. How would you spend $650,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Edina, Minnesota
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