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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Sauk Centre, Business Loans > First National Bank - Sauk Centre Sauk Centre Business Loans > Farm Supplies Wholesalers Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Entrepreneur Works With Sauk Centre, Minnesota Bank to Get an SBA LoanA Sauk Centre, Minnesota business loan can be yours. Learn how a company got a $514,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. First National Bank - Sauk Centre made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES WHOLESALERS SBA Loan Lender FIRST NATIONAL BANK - SAUK CENTRE This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422910 - Farm Supplies Wholesalers Loan Approval Date 4/17/2002 Loan Approval Gross Amount $514,000 Loan Approval from the SBA Of the total $514,000 loan amount, the SBA guaranteed $385,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank - Sauk Centre 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: How Much Venture Capital Is There? Banks in Sauk Centre, Minnesota
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