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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Marshall, Business Loans > Minnwest Bank, M.V. Marshall Business Loans > Sawmills Loan | ||||
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Who Lends Money to Cottonwood Business Owners
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Cottonwood, Minnesota Entrepreneur Gets a Bank LoanSearching for a Minnesota small business loan? This Minnesota entrepreneur got a small business loan, provided by a Minnesota bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Cottonwood, Minnesota by studying this loan to a local company, made back in 2004. Banks like Minnwest Bank, M.V. may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: SAWMILLS SBA Loan Lender MINNWEST BANK, M.V. This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 321113 - Sawmills Loan Approval Date 10/29/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Marshall, Minnesota Getting a Business Loan in Minnesota
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