Bank Of Zumbrota Gives Bank Loan to Foundation, Structure, And Building Exterior Contractors Company

Small business loans in Minnesota are hard to find these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Lake City, Minnesota was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Zumbrota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FOUNDATION, STRUCTURE, AND BUILDING EXTERIOR CONTRACTORS
LAKE CITY, MN 55041

SBA Loan Lender

BANK OF ZUMBROTA
70 W 3RD ST
ZUMBROTA, MN 55992

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238190 - Foundation, Structure, and Building Exterior Contractors

Loan Approval Date

5/26/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Lake City MN, you ought to talk with a local Lake City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lake City businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,000 loan. Remember, where there is a will, there is a way!

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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