Eagan, Minnesota Bank Lends Money to Farm Supplies Wholesalers Company in Eden Prairie, Minnesota

Thinking about meeting with an Eagan, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Eagan bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local firm in Eden Prairie, Minnesota. They received an SBA loan for $1,000,000. Nice!

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
EDEN PRAIRIE, MN 55346

SBA Loan Lender

BREMER BANK
1995 RAHN-CLIFF CT
EAGAN, MN 55122

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

422910 - Farm Supplies Wholesalers

Loan Approval Date

7/18/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $1,000,000. How would you spend $1,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

SBIR Funding

SBA Banks in Eagan, Minnesota

Getting a Business Loan in Minnesota