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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Morristown, Business Loans > Lake Country Community Bank Morristown Business Loans > Waste Management Services Loan | ||||
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SBA Loan from Lake Country Community Bank
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Faribault, Minnesota Business Gets SBA-Guaranteed Funding from Lake Country Community BankLake Country Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Faribault, Minnesota was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Lake Country Community Bank, operating out of Morristown, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WASTE MANAGEMENT SERVICES SBA Loan Lender LAKE COUNTRY COMMUNITY BANK The lender provided this bank 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 562998 - Waste Management Services Loan Approval Date 4/12/2005 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. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: Best Morristown, Minnesota Banks for Small Business
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