Elk River, Minnesota Business Gets SBA-Guaranteed Funding from 1st National Bank - Elk River

1st National Bank - Elk River has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

Getting a small business loan in Elk River, Minnesota was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Elk River, operating out of Anoka, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOLID WASTE COLLECTION
ELK RIVER, MN 55350

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
1121 W HWY 10
ANOKA, MN 55303

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.

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

5/31/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 4 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Elk River MN, you ought to talk with a local Elk River SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Elk River businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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