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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hastings, Business Loans > First National Bank Hastings Business Loans > Apparel And Accessory Stores Loan | ||||
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Minnesota Bank SBA Loans
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First National Bank SBA Loan to Apparel And Accessory Stores CompanyLooking to get a Minnesota business loan? Here's one Minnesota business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First National Bank, out of Hastings, Minnesota. The loan was granted and they received $27,800 to help grow their Hastings, Minnesota business. SBA Loan Borrower COMPANY TYPE: APPAREL AND ACCESSORY STORES SBA Loan Lender FIRST NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5699 - Apparel and Accessory Stores Loan Approval Date 5/9/2000 Loan Approval Gross Amount $27,800 Loan Approval from the SBA Of the total $27,800 loan amount, the SBA guaranteed $22,240. 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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Role of Business Plan When Raising Money Find an SBA Lender in Hastings, Minnesota
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