Minnesota SBA Loan Issued to Physical Fitness Facilities Company

Searching for a Minnesota small business loan? This Minnesota entrepreneur got a small business loan, provided by a Minnesota bank that works with the SBA to help small business owners.

By giving the right information to Amer National Bank - Minnesota, this Baxterm, Minnesota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
BAXTERM, MN 56425

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
7638 WOIDA RD
BAXTER, MN 56425

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

4/29/2003

Loan Approval Gross Amount

$74,250

Loan Approval from the SBA

Of the total $74,250 loan amount, the SBA guaranteed $63,112.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 19 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Baxterm MN, you ought to talk with a local Baxterm SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baxterm businesses.

This SBA loan was for $74,250. How would you spend $74,250 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:

Debt Financing

Best Baxter, Minnesota Banks for Small Business

SBA Participating Banks in Minnesota