Minnetonka, Minnesota Lender Lends Money to Management Consulting Services Company

Get to know Minnetonka, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. First Minnetonka City Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Shorewood, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Minnetonka City Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MANAGEMENT CONSULTING SERVICES
SHOREWOOD, MN 55331

SBA Loan Lender

FIRST MINNETONKA CITY BANK
14550 EXCELSIOR BLVD
MINNETONKA, MN 55345

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

8742 - Management Consulting Services

NAICS Code

561613 - Armored Car Services

Loan Approval Date

12/10/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $20,000. How would you spend $20,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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