Entrepreneur Works With Alexandria, Minnesota Bank to Get an SBA Loan

An Alexandria, Minnesota business loan can be yours. Learn how one firm got a $48,500 business loan from this Minnesota bank.

This loan to a local firm is a good example of an SBA loan. Bremer Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: USED HOUSEHOLD AND OFFICE GOODS MOVING
FERGUS FALLS, MN 56537

SBA Loan Lender

BREMER BANK
720 BROADWAY
ALEXANDRIA, MN 56308

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

484210 - Used Household and Office Goods Moving

Loan Approval Date

6/24/2004

Loan Approval Gross Amount

$48,500

Loan Approval from the SBA

Of the total $48,500 loan amount, the SBA guaranteed $24,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency money for small business, 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:

The Friends and Family Network

Small Business Banks in Alexandria, Minnesota

Browse All Business Loan Sources for Minnesota