Bed-and-Breakfast Inns Loans

With these loans for bed-and-breakfast inns, the SBA guarantees the lender that the loan will be repaid. This bed-and-breakfast inns loan for $124,000 was given to a Minnesota entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atwater, Minnesota was able to borrow $124,000 from Home State Bank. The SBA made the loan possible by guaranteeing $62,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
ATWATER, MN 56209

SBA Loan Lender

HOME STATE BANK
1610 E HWY 12
WILLMAR, MN 56201

This lender processed this loan for a small business under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$124,000

Loan Approval from the SBA

Of the total $124,000 loan amount, the SBA guaranteed $62,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Home State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Strategic Investors

Small Business Banks in Willmar, Minnesota

Getting a Business Loan in Minnesota