SBA Loan from Red River State Bank Helps Drinking Places Company

An SBA loan from Red River State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Halstad, Minnesota business owner got a $27,000 loan.

Getting a small business loan in Halstad, Minnesota was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Red River State Bank, operating out of Halstad, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
HALSTAD, MN 56548

SBA Loan Lender

RED RIVER STATE BANK
300 SECOND AVE WEST
HALSTAD, MN 56548

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722410 - Drinking Places

Loan Approval Date

4/5/2007

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $13,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Red River State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Red River State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

Banks in Halstad, Minnesota

Minnesota SBA Banks