Business Loan from 1st National Bank & Tr Given to Water, Sewer, And Utility Lines Company

1st National Bank & Tr 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 Edgerton, Minnesota was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank & Tr, operating out of Pipestone, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
EDGERTON, MN 56128

SBA Loan Lender

1ST NATIONAL BANK & TR
101 NW 2ND ST
PIPESTONE, MN 56164

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

Loan Approval Date

6/8/2000

Loan Approval Gross Amount

$108,500

Loan Approval from the SBA

Of the total $108,500 loan amount, the SBA guaranteed $81,375.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in Edgerton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Banking Deregulation's Effects on Entrepreneurship

Banks in Pipestone, Minnesota

Minnesota SBA Bank Lenders