Local Business Gets a Minnesota Small Business Loan

Searching for a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Minnesota bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Faribault, Minnesota by studying this loan to a local business, made back in 2005. Banks like Lake Country Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICE CENTERS
FARIBAULT, MN 55021

SBA Loan Lender

LAKE COUNTRY COMMUNITY BANK
111 DIVISION ST
MORRISTOWN, MN 55052

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

7/22/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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