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May 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > Custom Compounding Of Purchased Resins Loan | ||||
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Business Loans from Anchor Bank
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Anchor Bank SBA Loan to Custom Compounding Of Purchased Resins CompanyAnchor Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Lino Lakes, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Anchor Bank, based in Wayzata, Minnesota. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPOUNDING OF PURCHASED RESINS 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 325991 - Custom Compounding of Purchased Resins Loan Approval Date 9/20/2007 Loan Approval Gross Amount $256,000 Loan Approval from the SBA Of the total $256,000 loan amount, the SBA guaranteed $192,000. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Obtaining Funding From a Venture Capitalist Good Banks for Small Business in Wayzata, Minnesota
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