Financing for Fresh Fruit and Vegetable Merchant Wholesalers

Looking for commercial loans for fresh fruit and vegetable merchant wholesalers? An SBA loan may be just what you've been looking for. This $315,000 fresh fruit and vegetable merchant wholesalers loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in East Grand Forks, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank - Red River Valle, based in East Grand Forks, Minnesota.

SBA Loan Borrower

COMPANY TYPE: FRESH FRUIT AND VEGETABLE MERCHANT WHOLESALERS
EAST GRAND FORKS, MN 56721

SBA Loan Lender

COMMUNITY BANK - RED RIVER VALLE
1413 CENTRAL AVE NW
EAST GRAND FORKS, MN 56721

This lender issued this bank loan under the SBA 7A lending program , 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.

NAICS Code

424480 - Fresh Fruit and Vegetable Merchant Wholesalers

Loan Approval Date

5/6/2003

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $236,250.

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 20 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

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Find an SBA Lender in East Grand Forks, Minnesota

Minnesota SBA 7A Lenders