Community Resource Bank SBA Loan to Grocery Stores Company

An SBA loan from Community Resource Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Little Canada, Minnesota business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Little Canada, Minnesota was able to borrow $150,000 from Community Resource Bank. The SBA made the loan possible by guaranteeing $112,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LITTLE CANADA, MN 55117

SBA Loan Lender

COMMUNITY RESOURCE BANK
1501 W CNTY RD 'C'
ROSEVILLE, MN 55113

This lender issued this particular business 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

5411 - Grocery Stores

Loan Approval Date

2/28/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Little Canada or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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