SBA Loans for Grain and Field Bean Merchant Wholesalers

With these SBA loans for grain and field bean merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This grain and field bean merchant wholesalers loan for $700,000 was given to a Minnesota entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Fosston, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Ultima Bank Minnesota, based in Winger, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN MERCHANT WHOLESALERS
FOSSTON, MN 56542

SBA Loan Lender

ULTIMA BANK MINNESOTA
649 MAIN ST
WINGER, MN 56592

This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424510 - Grain and Field Bean Merchant Wholesalers

Loan Approval Date

7/9/2003

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 10 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Much Venture Capital Is There?

Small Bank Loans in Winger, Minnesota

Minnesota SBA Banks