Ivanhoe, Minnesota Business Gets SBA-Guaranteed Funding from Kleinbank

An SBA loan from Kleinbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Ivanhoe, Minnesota business owner got a $80,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ivanhoe, Minnesota was able to borrow $80,000 from Kleinbank. The SBA made the loan possible by guaranteeing $68,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
IVANHOE, MN 56142

SBA Loan Lender

KLEINBANK
101 S FIRST ST
MONTEVIDEO, MN 56265

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

4/5/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 3 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $80,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding From a Venture Capitalist

Small Bank Loans in Montevideo, Minnesota

Minnesota SBA 7A Lenders