Beer, Wine, and Liquor Stores Bank Loans

With these bank loans for beer, wine, and liquor stores, the SBA guarantees the lender that the loan will be repaid. This beer, wine, and liquor stores loan for $29,500 was given to a Minnesota entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in International Falls, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Border State Bank, based in Roseau, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
INTERNATIONAL FALLS, MN 56649

SBA Loan Lender

BORDER STATE BANK
1083 3RD ST NW
ROSEAU, MN 56751

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

2/11/2000

Loan Approval Gross Amount

$29,500

Loan Approval from the SBA

Of the total $29,500 loan amount, the SBA guaranteed $23,600.

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 business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Border State Bank 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:

Small Business Credit Cards

SBA 7A Lenders in Roseau, Minnesota

SBA Lenders in Minnesota