Bank Of The West Gives Business Loan to Hog And Pig Farming Company

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Utah bank, which offers SBA loans to Minnesota entrepreneurs.

By giving the right information to Bank Of The West, this Heron Lake, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: HOG AND PIG FARMING
HERON LAKE, MN 56137

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This commercial loan 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

112210 - Hog and Pig Farming

Loan Approval Date

10/19/2001

Loan Approval Gross Amount

$547,000

Loan Approval from the SBA

Of the total $547,000 loan amount, the SBA guaranteed $410,250.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $547,000 loan. Remember, things become real when you believe you can achieve them!

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:

Getting a Small Business Loan

Find an SBA Lender in Salt Lake City, Utah

Getting an SBA Loan in Utah