Minnwest Bank South Gives SBA Loan to Grain And Field Bean Merchant Wholesalers Company

MinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Minnesota bank provides the loan.

This company, based in Amiret, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Minnwest Bank South. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN MERCHANT WHOLESALERS
AMIRET, MN 56175

SBA Loan Lender

MINNWEST BANK SOUTH
250 3RD ST
TRACY, MN 56175

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424510 - Grain and Field Bean Merchant Wholesalers

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

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 6 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $550,000. How would you spend $550,000 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.

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