Ashby, Minnesota Business Gets SBA-Guaranteed Funding from First State Bank Of Ashby

An SBA loan from First State Bank Of Ashby typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ashby, Minnesota business owner got a $118,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ashby, Minnesota was able to borrow $118,000 from First State Bank Of Ashby. The SBA made the loan possible by guaranteeing $100,300 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: POULTRY PROCESSING
ASHBY, MN 56309

SBA Loan Lender

FIRST STATE BANK OF ASHBY
110 MAIN ST
ASHBY, MN 56309

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311615 - Poultry Processing

Loan Approval Date

11/1/2006

Loan Approval Gross Amount

$118,000

Loan Approval from the SBA

Of the total $118,000 loan amount, the SBA guaranteed $100,300.

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

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First State Bank Of Ashby that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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