Bigfork, Minnesota Entrepreneur Gets a Small Business Loan

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

You can learn something about getting a small business loan in Bigfork, Minnesota by studying this loan to a local company, made back in 2002. Banks like First State Bank Of Bigfork may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE
BIGFORK, MN 56628

SBA Loan Lender

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

This commercial 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

811411 - Home and Garden Equipment Repair and Maintenance

Loan Approval Date

11/12/2002

Loan Approval Gross Amount

$282,000

Loan Approval from the SBA

Of the total $282,000 loan amount, the SBA guaranteed $211,500.

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 9 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $282,000 loan. Remember, things become real when you believe you can achieve them!

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.

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