Blooming Prairie, Minnesota Lender Lends Money to Insurance Related Activities Company

Thinking about meeting with a Blooming Prairie, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Blooming Prairie bank, that was approved by the SBA.

Applying for an SBA loan with Farmers & Merchants St. Bank - B worked out well for our friends at one local company in Blooming Prairie, Minnesota. They received an SBA loan for $29,300. Nice!

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
BLOOMING PRAIRIE, MN 55917

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - B
245 E MAIN
BLOOMING PRAIRIE, MN 55917

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

8/29/2006

Loan Approval Gross Amount

$29,300

Loan Approval from the SBA

Of the total $29,300 loan amount, the SBA guaranteed $24,905.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Farmers & Merchants St. Bank - B and they will explain how you can get an SBA loan for your company.

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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