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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Blooming Prairie, Business Loans > Farmers & Merchants St. Bank - B Blooming Prairie Business Loans > Drinking Places Loan | ||||
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Minnesota Small Business SBA Loans
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Farmers & Merchants St. Bank - B Gives Small Business Loan to Drinking Places CompanyMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. This small business, based in Austin, 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 Farmers & Merchants St. Bank - B. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender FARMERS & MERCHANTS ST. BANK - B This 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 722410 - Drinking Places Loan Approval Date 1/19/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: A Company That Helps Entrepreneurs Banks in Blooming Prairie, Minnesota
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