Loans for Health and Personal Care Stores

Looking for loans for health and personal care stores? Talk to a banker who works with the SBA. This $173,900 health and personal care stores loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Midwest Bank, out of Detroit Lakes, Minnesota. The loan was granted and they received $173,900 to help grow their Detroit Lakes, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND PERSONAL CARE STORES
DETROIT LAKES, MN 56501

SBA Loan Lender

MIDWEST BANK
613 HWY 10 EAST
DETROIT LAKES, MN 56502

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

446199 - Health and Personal Care Stores

Loan Approval Date

11/29/2006

Loan Approval Gross Amount

$173,900

Loan Approval from the SBA

Of the total $173,900 loan amount, the SBA guaranteed $86,950.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Midwest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Family and Friend Investors - Your First Financiers

Banks in Detroit Lakes, Minnesota

SBA Minnesota Lenders