SBA Loan from 1st National Bank - Elk River Helps Book Publishers Company

An SBA loan from 1st National Bank - Elk River typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Excelsior, Minnesota business owner got a $20,000 loan.

This business knew how to go about getting a business bank loan. Based in Excelsior, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was 1st National Bank - Elk River, based in Elk River, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BOOK PUBLISHERS
EXCELSIOR, MN 55331

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
729 MAIN ST
ELK RIVER, MN 55330

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

511130 - Book Publishers

Loan Approval Date

3/27/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st National Bank - Elk River and they will explain how you can get an SBA loan for your company.

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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SBA Banks in Elk River, Minnesota

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