Hastings, Minnesota Bank Gives SBA Loan to Ice Cream And Frozen Dessert Manufacturing Company

Want to talk with a Hastings, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Hastings bank, that was approved by the SBA.

Applying for an SBA loan with Merchants Bank worked out well for our friends at one local company in Apple Valley, Minnesota. They received an SBA loan for $288,000. Great job!

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING
APPLE VALLEY, MN 55124

SBA Loan Lender

MERCHANTS BANK
1525 VERMILLION ST, STE 200
HASTINGS, MN 55033

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

8/2/2004

Loan Approval Gross Amount

$288,000

Loan Approval from the SBA

Of the total $288,000 loan amount, the SBA guaranteed $216,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Credit Evaluation

Small Bank Loans in Hastings, Minnesota

Where to Get an SBA Loan Minnesota