SBA Loan from First State Bank Of Kensington Helps Farm Supplies Merchant Wholesalers Company

An SBA loan from First State Bank Of Kensington typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kensington, Minnesota business owner got a $1,242,200 loan.

This small firm knew how to go about getting a business bank loan. Based in Kensington, Minnesota, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First State Bank Of Kensington, based in Kensington, Minnesota.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS
KENSINGTON, MN 56343

SBA Loan Lender

FIRST STATE BANK OF KENSINGTON
11 N CENTRAL AVE
KENSINGTON, MN 56343

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424910 - Farm Supplies Merchant Wholesalers

Loan Approval Date

4/8/2003

Loan Approval Gross Amount

$1,242,200

Loan Approval from the SBA

Of the total $1,242,200 loan amount, the SBA guaranteed $931,650.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First State Bank Of Kensington and they will explain how you can get an SBA loan for your company.

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:

Business Line of Credit

Small Business Banks in Kensington, Minnesota

Minnesota SBA 7A Lenders