Frandsen Bank & Trust Gives Business Loan to Hardware Stores Company

Looking to get 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.

Getting a small business loan in Foley, Minnesota was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Frandsen Bank & Trust. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
FOLEY, MN 56329

SBA Loan Lender

FRANDSEN BANK & TRUST
341 4TH AVE
FOLEY, MN 56329

The lender provided this business 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

444130 - Hardware Stores

Loan Approval Date

12/20/2004

Loan Approval Gross Amount

$52,300

Loan Approval from the SBA

Of the total $52,300 loan amount, the SBA guaranteed $26,150.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $52,300. How would you spend $52,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

SBIR Funding

SBA Banks in Foley, Minnesota

Getting an SBA Loan in Minnesota