SBA Loan from Bank Midwest Minnesota Iowa Na Helps Nursery And Garden Centers Company

An SBA loan from Bank Midwest Minnesota Iowa Na typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Harris, Iowa business owner got a $87,600 loan.

Getting a small business loan in Harris, Iowa was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Midwest Minnesota Iowa Na, operating out of Fairmont, Minnesota. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
HARRIS, IA 51345

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
118 DOWNTOWN PLAZA
FAIRMONT, MN 56031

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

2/3/2005

Loan Approval Gross Amount

$87,600

Loan Approval from the SBA

Of the total $87,600 loan amount, the SBA guaranteed $74,460.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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SBA Approved Banks in Fairmont, Minnesota

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