Maplewood, Minnesota Bank Gives SBA Loan to Water Supply Company

Find Maplewood, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Western Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hudson, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Western Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WATER SUPPLY
HUDSON, WI 54016

SBA Loan Lender

WESTERN BANK
1740 RICE ST
MAPLEWOOD, MN 55113

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4941 - Water Supply

NAICS Code

221310 - Water Supply and Irrigation Systems

Loan Approval Date

3/16/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Western Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Credit Cards

SBA Approved Banks in Maplewood, Minnesota

SBA Minnesota Lenders