East Grand Forks, Minnesota Business Gets SBA-Guaranteed Funding from Bremer Bank

Bremer Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in East Grand Forks, Minnesota was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank, operating out of Grand Forks, North Dakota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: AIRPORTS, FLYING FIELDS, AND TERMINAL SERVICES
EAST GRAND FORKS, MN 56721

SBA Loan Lender

BREMER BANK
3100 S COLUMBIA RD
GRAND FORKS, ND 58201

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4581 - Airports, Flying Fields, and Terminal Services

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

5/27/2005

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 120 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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:

504 Loans

SBA Participating Banks in Grand Forks, North Dakota

Where to Get an SBA Loan North Dakota