South Saint Paul, Minnesota Lender Lends Money to Specialty Trade Contractors Company

Find South Saint Paul, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Mainstreet Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SOUTH ST. PAUL, MN 55075

SBA Loan Lender

MAINSTREET BANK
835 SOUTHVIEW BLVD
SOUTH SAINT PAUL, MN 55075

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

12/10/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 14 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

The Friends and Family Network

SBA Participating Banks in South Saint Paul, Minnesota

Getting an SBA Loan in Minnesota