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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 > Floor Covering Stores Loan | ||||
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Crosslake, Minnesota Bank Loan
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Floor Covering Stores Commercial LoansLooking for commercial loans for floor covering stores? Try the SBA. This $231,500 floor covering stores loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Crosslake, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Amer National Bank - Minnesota, based in Baxter, Minnesota. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender AMER NATIONAL BANK - MINNESOTA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 442210 - Floor Covering Stores Loan Approval Date 12/28/2006 Loan Approval Gross Amount $231,500 Loan Approval from the SBA Of the total $231,500 loan amount, the SBA guaranteed $115,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Obtaining Funding - How to Decide How Much to Raise Where to Get an SBA Loan in Baxter, Minnesota
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