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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Alexandria, Business Loans > Bremer Bank Alexandria Business Loans > Floor Covering Stores Loan | ||||
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Banks That Lend to Minnesota Small Businesses
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Bremer Bank Gives Business Loan to Floor Covering Stores CompanyWant a Minnesota bank loan? This Minnesota entrepreneur got a bank loan, provided by a Minnesota bank that works with the SBA to help small business owners. This company, based in Fergus Falls, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bremer Bank. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender BREMER BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 442210 - Floor Covering Stores Loan Approval Date 9/14/2004 Loan Approval Gross Amount $32,000 Loan Approval from the SBA Of the total $32,000 loan amount, the SBA guaranteed $16,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bremer Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Alexandria, Minnesota
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