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April 28, 2024  
 
 
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Minnesota SBA Lenders

 

 
Loan Census SBA Loan Info

North Saint Paul, Minnesota Lender Lends Money to Security Systems Services Company

Thinking about meeting with a North Saint Paul, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a North Saint Paul bank, that was approved by the SBA.

Applying for an SBA loan with Anchor Bank Heritage worked out well for our friends at one local firm in Minneapolis, Minnesota. They got an SBA loan for $34,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: SECURITY SYSTEMS SERVICES
MINNEAPOLIS, MN 55413

SBA Loan Lender

ANCHOR BANK HERITAGE
2700 E 7TH AVE
NORTH SAINT PAUL, MN 55109

This lender issued this particular SBA 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

7382 - Security Systems Services

NAICS Code

561621 - Security Systems Services

Loan Approval Date

9/13/2000

Loan Approval Gross Amount

$34,000

Loan Approval from the SBA

Of the total $34,000 loan amount, the SBA guaranteed $27,200.

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 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Anchor Bank Heritage had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Anchor Bank Heritage made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Strategic Investors

SBA 7A Lenders in North Saint Paul, Minnesota

Getting an SBA Loan in Minnesota