Get an SBA Loan for Warehouse Clubs and Superstores

Looking for small business loans for warehouse clubs and superstores? The SBA may be the answer. This $144,800 warehouse clubs and superstores loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bigfork, Minnesota was able to borrow $144,800 from First State Bank Of Bigfork. The SBA made the loan possible by guaranteeing $123,080 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
BIGFORK, MN 56628

SBA Loan Lender

FIRST STATE BANK OF BIGFORK
400 MAIN AVE
BIGFORK, MN 56628

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

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

5/30/2001

Loan Approval Gross Amount

$144,800

Loan Approval from the SBA

Of the total $144,800 loan amount, the SBA guaranteed $123,080.

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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First State Bank Of Bigfork and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Cash Advances

SBA Banks in Bigfork, Minnesota

Where to Get an SBA Loan Minnesota