Cold Springs, Minnesota Entrepreneur Gets a Small Business Loan

Searching for a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in Cold Springs, Minnesota was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of St. Joseph. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
COLD SPRINGS, MN 56320

SBA Loan Lender

FIRST STATE BANK OF ST. JOSEPH
400 4TH AVE NE
SAINT JOSEPH, MN 56374

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2007

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $21,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help generate 25 new jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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