Beaver Creek, Minnesota Entrepreneur Gets a Small Business Loan

Business loans in Minnesota are hard to find these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Beaver Creek, Minnesota was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Minnwest Bank Luverne. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOGS
BEAVER CREEK, MN 56116

SBA Loan Lender

MINNWEST BANK LUVERNE
116 E MAIN
LUVERNE, MN 56156

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

0213 - Hogs

NAICS Code

112210 - Hog and Pig Farming

Loan Approval Date

7/5/2001

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Luverne, Minnesota

Find an SBA Lender in Minnesota