Get an SBA Loan for Farm Supplies Wholesalers

Looking for loans for farm supplies wholesalers? Try the SBA. This $950,000 farm supplies wholesalers loan was issued by a Minnesota bank.

This company knew how to go about getting a business bank loan. Based in Borup, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First National Bank In Mahnomen, based in Mahnomen, Minnesota.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
BORUP, MN 56519

SBA Loan Lender

FIRST NATIONAL BANK IN MAHNOMEN
103 N MAIN ST
MAHNOMEN, MN 56557

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

8/22/2000

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 18 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Borup MN, you ought to talk with a local Borup SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Borup businesses.

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 $950,000 loan. Remember, if it to be, it is up to me!

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:

Family and Friend Investors - Your First Financiers

SBA 7A Banks in Mahnomen, Minnesota

Browse All Business Loan Sources for Minnesota