Business Loan from 1st National Bank - Henning Given to Building Material Dealers Company

1st National Bank - Henning has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st National Bank - Henning, out of Ottertail, Minnesota. The loan was granted and they received $311,500 to help grow their Henning, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
HENNING, MN 56551

SBA Loan Lender

1ST NATIONAL BANK - HENNING
239 MN HWY 78N
OTTERTAIL, MN 56571

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$311,500

Loan Approval from the SBA

Of the total $311,500 loan amount, the SBA guaranteed $233,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Henning or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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