Entrepreneur Works With Farmington, Minnesota Bank to Get an SBA Loan

Find Farmington, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Premier Bank Minnesota is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Bloomington, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Premier Bank Minnesota. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COOKIE AND CRACKER MANUFACTURING
BLOOMINGTON, MN 55420

SBA Loan Lender

PREMIER BANK MINNESOTA
316 OAK ST
FARMINGTON, MN 55024

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

311821 - Cookie and Cracker Manufacturing

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 19 employees. The SBA loan application for the borrower indicated that the loan would help retain 19 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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