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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Anchor Bank Saint Paul Saint Paul Business Loans > Life Insurance Loan | ||||
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Saint Paul SBA Lenders
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Saint Paul, Minnesota Bank Lends Money to Life Insurance Company in West St. Paul, MinnesotaThinking about meeting with a Saint Paul, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA. Applying for an SBA loan with Anchor Bank Saint Paul worked out well for our friends at one local business in West St. Paul, Minnesota. The business was able to get an SBA loan for $125,000. Way to go! SBA Loan Borrower COMPANY TYPE: LIFE INSURANCE SBA Loan Lender ANCHOR BANK SAINT PAUL 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 6311 - Life Insurance Loan Approval Date 6/20/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 5 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, where there is a will, there is a way! 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: Advice on Getting a Small Business Loan Small Bank Loans in Saint Paul, Minnesota
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