How to Get a Loan for Meat Markets

With these commercial loans for meat markets, the SBA guarantees the lender that the loan will be repaid. This meat markets loan for $235,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elk River, Minnesota was able to borrow $235,000 from Peoples Bank Of Commerce. The SBA made the loan possible by guaranteeing $176,250 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MEAT MARKETS
ELK RIVER, MN 55330

SBA Loan Lender

PEOPLES BANK OF COMMERCE
43 E KELLOGG BLVD
SAINT PAUL, MN 55101

This lender issued this SBA 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

445210 - Meat Markets

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $176,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents 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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $235,000 loan. Remember, if it to be, it is up to me!

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:

Angel Investors

Banks in Saint Paul, Minnesota

Getting an SBA Loan in Minnesota