Moorhead, Minnesota Lender Lends Money to Musical Instrument Stores Company

Get SBA loans from a Moorhead, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Northwestern Bank is a Moorhead, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Dakota company.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
FARGO, ND 58102

SBA Loan Lender

NORTHWESTERN BANK
2405 S 8TH ST
MOORHEAD, MN 56560

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

12/22/2004

Loan Approval Gross Amount

$63,100

Loan Approval from the SBA

Of the total $63,100 loan amount, the SBA guaranteed $53,635.

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 2 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northwestern Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northwestern Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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