Brainerd, Minnesota Entrepreneur Gets an SBA Loan

Would a Minnesota business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

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

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES WHOLESALERS
BRAINERD, MN 56401

SBA Loan Lender

NORTHERN NATIONAL BANK
7429 EXCELSIOR RD
BAXTER, MN 56425

This lender issued this 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.

NAICS Code

422610 - Plastics Materials and Basic Forms and Shapes Wholesalers

Loan Approval Date

12/31/2002

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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