Amer National Bank - Minnesota SBA Loan to Hotels And Motels Company

Amer National Bank - Minnesota and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Backus, Minnesota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Amer National Bank - Minnesota, based in Walker, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BACKUS, MN 56435

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
100 HIGHLAND AVE NW
WALKER, MN 56484

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

721110 - Hotels and Motels

Loan Approval Date

5/15/2002

Loan Approval Gross Amount

$460,000

Loan Approval from the SBA

Of the total $460,000 loan amount, the SBA guaranteed $345,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Backus MN, you ought to talk with a local Backus SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Backus businesses.

This SBA loan was for $460,000. How would you spend $460,000 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.

Related Links:

How to Raise Money

SBA Participating Banks in Walker, Minnesota

Minnesota SBA 7A Banks