Getting an SBA Loan for Livestock Wholesalers

Looking for commercial loans for livestock wholesalers? Talk to a banker who works with the SBA. This $600,000 livestock wholesalers loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Foley, Minnesota was able to borrow $600,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $540,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: LIVESTOCK
FOLEY, MN 56329

SBA Loan Lender

BREMER BANK
1100 W ST. GERMAIN ST
SAINT CLOUD, MN 56301

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5154 - Livestock

NAICS Code

422520 - Livestock Wholesalers

Loan Approval Date

2/24/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $540,000.

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 SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bremer Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Small Business Banks in Saint Cloud, Minnesota

Find an SBA Lender in Minnesota