Business Loan from First State Bank Of Wabasha Given to Medical, Dental And Hospital Equipment Company

An SBA loan from First State Bank Of Wabasha typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kellogg, Minnesota business owner got a $6,000 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First State Bank Of Wabasha, out of Wabasha, Minnesota. The loan was granted and they received $6,000 to help grow their Kellogg, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT
KELLOGG, MN 55945

SBA Loan Lender

FIRST STATE BANK OF WABASHA
111 W MAIN ST
WABASHA, MN 55981

This lender issued this particular SBA bank 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.

SIC Code

5047 - Medical, Dental and Hospital Equipment

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

1/22/2001

Loan Approval Gross Amount

$6,000

Loan Approval from the SBA

Of the total $6,000 loan amount, the SBA guaranteed $5,100.

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. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First State Bank Of Wabasha so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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