Business Loans for Homes for the Elderly

Looking for business loans for homes for the elderly? An SBA loan may be just what you've been looking for. This $250,000 homes for the elderly loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Henning, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was 1st National Bank - Henning, based in Henning, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
HENNING, MN 56551

SBA Loan Lender

1ST NATIONAL BANK - HENNING
512 DOUGLAS AVE
HENNING, MN 56551

This loan for a small business 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

623312 - Homes for the Elderly

Loan Approval Date

3/15/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Bank - Henning had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Bank - Henning 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:

Small Business Loan

SBA 7A Lenders in Henning, Minnesota

Minnesota SBA 7A Lenders