Where to Get Capital for Financial Vehicles

With these SBA loans for financial vehicles, the SBA guarantees the lender that the loan will be repaid. This financial vehicles loan for $995,000 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Hutchinson, Minnesota was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank & Trust, operating out of Hutchinson, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FINANCIAL VEHICLES
HUTCHINSON, MN 55350

SBA Loan Lender

CITIZENS BANK & TRUST
102 MAIN ST SOUTH
HUTCHINSON, MN 55350

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

525990 - Financial Vehicles

Loan Approval Date

8/24/2004

Loan Approval Gross Amount

$995,000

Loan Approval from the SBA

Of the total $995,000 loan amount, the SBA guaranteed $746,250.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Hutchinson MN, you ought to talk with a local Hutchinson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hutchinson businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Dealing With Venture Capitalists

Banks in Hutchinson, Minnesota

Minnesota SBA 7A Banks