SBA Loan from First Farmers & Merchants Natl Helps Wood Kitchen Cabinet And Countertop Manufacturing Company

First Farmers & Merchants Natl has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Le Sueur, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was First Farmers & Merchants Natl, based in Le Sueur, Minnesota.

SBA Loan Borrower

COMPANY TYPE: WOOD KITCHEN CABINET AND COUNTERTOP MANUFACTURING
LE SUEUR, MN 56058

SBA Loan Lender

FIRST FARMERS & MERCHANTS NATL
112 S MAIN ST
LE SUEUR, MN 56058

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337110 - Wood Kitchen Cabinet and Countertop Manufacturing

Loan Approval Date

3/16/2005

Loan Approval Gross Amount

$20,300

Loan Approval from the SBA

Of the total $20,300 loan amount, the SBA guaranteed $17,255.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Farmers & Merchants Natl are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Business Credit Evaluation

SBA Participating Banks in Le Sueur, Minnesota

Find an SBA Lender in Minnesota