Commercial Loans for Musical Instrument and Supplies Stores

Looking for commercial loans for musical instrument and supplies stores? Talk to a banker who works with the SBA. This $50,000 musical instrument and supplies stores loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fargo, North Dakota was able to borrow $50,000 from Glenwood State Bank. The SBA made the loan possible by guaranteeing $42,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES
FARGO, ND 58102

SBA Loan Lender

GLENWOOD STATE BANK
5 E MINNESOTA
GLENWOOD, MN 56334

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

8/20/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Glenwood, Minnesota

Getting a Business Loan in Minnesota