Plymouth, Minnesota Business Gets SBA-Guaranteed Funding from American Bank Of St. Paul

American Bank Of St. Paul 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 Plymouth, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was American Bank Of St. Paul, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
PLYMOUTH, MN 55442

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541710 -

Loan Approval Date

1/18/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 10 new jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Plymouth MN, you ought to talk with a local Plymouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plymouth businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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