Financing for Farm Product Warehousing and Storage

With these commercial loans for farm product warehousing and storage, the SBA guarantees the lender that the loan will be repaid. This farm product warehousing and storage loan for $450,000 was given to a Minnesota entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amiret, Minnesota was able to borrow $450,000 from Minnwest Bank South. The SBA made the loan possible by guaranteeing $337,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT WAREHOUSING AND STORAGE
AMIRET, MN 56175

SBA Loan Lender

MINNWEST BANK SOUTH
250 3RD ST
TRACY, MN 56175

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

493130 - Farm Product Warehousing and Storage

Loan Approval Date

4/14/2004

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $450,000. How would you spend $450,000 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.

Related Links:

How to Raise Money

Find an SBA Lender in Tracy, Minnesota

Where to Get an SBA Loan Minnesota