Morristown, Minnesota Lender Lends Money to Business Service Centers Company

Get to know Morristown, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Lake Country Community Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Faribault, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Lake Country Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICE CENTERS
FARIBAULT, MN 55021

SBA Loan Lender

LAKE COUNTRY COMMUNITY BANK
111 DIVISION ST
MORRISTOWN, MN 55052

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

561439 - Business Service Centers

Loan Approval Date

6/27/2006

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $80,000.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Faribault MN, you ought to talk with a local Faribault SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Faribault businesses.

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 $160,000 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.

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