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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Variety Stores Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Where to Get Capital for General Merchandise StoresWith these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $60,000 was given to a Minnesota entrepreneur in 2000. This small business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Associated Bank, based in Minneapolis, Minnesota. SBA Loan Borrower COMPANY TYPE: VARIETY STORES SBA Loan Lender ASSOCIATED 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. SIC Code 5331 - Variety Stores NAICS Code 452990 - General Merchandise Stores Loan Approval Date 5/12/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $48,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Associated Bank and they will explain how you can get an SBA loan for your company. 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: Best Minneapolis, Minnesota Banks for Small Business SBA Participating Banks in Minnesota
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