Financing for Canvas and Related Product Mills

With these loans for canvas and related product mills, the SBA guarantees the lender that the loan will be repaid. This canvas and related product mills loan for $95,000 was given to a Minnesota entrepreneur in 2002.

Getting a small business loan in Cannon Falls, Minnesota was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank In Cannon Falls, operating out of Cannon Falls, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CANVAS AND RELATED PRODUCT MILLS
CANNON FALLS, MN 55009

SBA Loan Lender

1ST NATIONAL BANK IN CANNON FALLS
300 W MAIN ST
CANNON FALLS, MN 55009

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

314912 - Canvas and Related Product Mills

Loan Approval Date

11/12/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank In Cannon Falls are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Advice on Getting a Small Business Loan

SBA Banks in Cannon Falls, Minnesota

Minnesota SBA 7A Banks