Hendricks, Minnesota Bank Lends Money to Landscaping Services Company in Ivanhoe, Minnesota

Thinking about meeting with a Hendricks, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Hendricks bank, that was approved by the SBA.

Applying for an SBA loan with First Security Bank-Hendricks worked out well for our friends at one local firm in Ivanhoe, Minnesota. The business was able to get an SBA loan for $129,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
IVANHOE, MN 56142

SBA Loan Lender

FIRST SECURITY BANK-HENDRICKS
113 S MAIN
HENDRICKS, MN 56136

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

4/13/2005

Loan Approval Gross Amount

$129,000

Loan Approval from the SBA

Of the total $129,000 loan amount, the SBA guaranteed $109,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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.

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