1st National Bank - Herman SBA Loan to Convenience Stores Company

An SBA loan from 1st National Bank - Herman typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Herman, Minnesota business owner got a $240,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st National Bank - Herman, out of Herman, Minnesota. The loan was granted and they received $240,000 to help grow their Herman, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
HERMAN, MN 56248

SBA Loan Lender

1ST NATIONAL BANK - HERMAN
103 5TH ST EAST
HERMAN, MN 56248

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

445120 - Convenience Stores

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

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 4 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you need seed money for 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:

Microlending as a Small Business Funding Source

SBA Banks in Herman, Minnesota

Minnesota SBA Banks