Pet and Pet Supplies Stores Small Business Loans

Looking for small business loans for pet and pet supplies stores? Try the SBA. This $86,060 pet and pet supplies stores loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Citizens Independent Bank, out of Hopkins, Minnesota. The loan was granted and they received $86,060 to help grow their Burnsville, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
BURNSVILLE, MN 55337

SBA Loan Lender

CITIZENS INDEPENDENT BANK
10901 EXCELSIOR BLVD
HOPKINS, MN 55343

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$86,060

Loan Approval from the SBA

Of the total $86,060 loan amount, the SBA guaranteed $73,151.

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 5 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Independent Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Hopkins, Minnesota

SBA Participating Banks in Minnesota