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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Edina, Business Loans > Crown Bank Edina Business Loans > Toys And Hobby Goods And Supplies Loan | ||||
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Raising Money in Minneapolis, Minnesota With SBA Loans
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Loans for Pet and Pet Supplies StoresLooking for loans for pet and pet supplies stores? Talk to a banker who works with the SBA. This $150,000 pet and pet supplies stores loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $150,000 from Crown Bank. The SBA made the loan possible by guaranteeing $112,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES SBA Loan Lender CROWN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5092 - Toys and Hobby Goods and Supplies NAICS Code 453910 - Pet and Pet Supplies Stores Loan Approval Date 10/5/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 4 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Banking Deregulation's Effects on Entrepreneurship Best Edina, Minnesota Banks for Small Business Getting an SBA Loan in Minnesota
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