Hinckley, Minnesota Bank Lends Money to Hardware Stores Company in Hinckley, Minnesota

A Hinckley, Minnesota business loan can be yours. Learn how one firm got a $811,000 business loan from this Minnesota bank.

This loan to a local firm is a good example of an SBA loan. Woodlands National Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
HINCKLEY, MN 55037

SBA Loan Lender

WOODLANDS NATIONAL BANK
424 MAIN ST
HINCKLEY, MN 55037

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

5/10/2005

Loan Approval Gross Amount

$811,000

Loan Approval from the SBA

Of the total $811,000 loan amount, the SBA guaranteed $608,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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SBA 7A Banks for Hinckley, Minnesota Loans

Minnesota SBA 7A Lenders