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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Sporting Goods Stores Loan | ||||
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Woodbury, Minnesota Bank Loan
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Sporting Goods Stores Business LoansLooking for business loans for sporting goods stores? Try the SBA. This $85,000 sporting goods stores loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Woodbury, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Park Midway Bank, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender PARK MIDWAY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 10/18/2004 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $85,000 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: Best Saint Paul, Minnesota Banks for Small Business Getting an SBA Loan in Minnesota
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