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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Baxter, Business Loans > Amer National Bank - Minnesota Baxter Business Loans > Grocery Stores Loan | ||||
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Minnesota Bank SBA Loans
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Amer National Bank - Minnesota SBA Loan to Grocery Stores CompanyLooking to get a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Carlos, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Amer National Bank - Minnesota, based in Baxter, Minnesota. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender AMER NATIONAL BANK - MINNESOTA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 8/25/2000 Loan Approval Gross Amount $89,640 Loan Approval from the SBA Of the total $89,640 loan amount, the SBA guaranteed $71,712. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Related Links: Who Lends Money to Small Businesses in Baxter, Minnesota
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