Business Loan from Bank Midwest Minnesota Iowa Na Given to Motion Picture Theaters Company

An SBA loan from Bank Midwest Minnesota Iowa Na typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cheyenne, Wyoming business owner got a $80,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cheyenne, Wyoming was able to borrow $80,000 from Bank Midwest Minnesota Iowa Na. The SBA made the loan possible by guaranteeing $68,000 of this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE THEATERS
CHEYENNE, WY 82001

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
509 3RD ST
JACKSON, MN 56143

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512131 - Motion Picture Theaters

Loan Approval Date

11/18/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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