Blooming Prairie, Minnesota Bank Lends Money to Personal Services Company in Lyle, Minnesota

Find Blooming Prairie, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Farmers & Merchants St. Bank - B is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lyle, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Farmers & Merchants St. Bank - B. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
LYLE, MN 55953

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - B
245 E MAIN
BLOOMING PRAIRIE, MN 55917

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

812990 - Personal Services

Loan Approval Date

8/17/2007

Loan Approval Gross Amount

$182,000

Loan Approval from the SBA

Of the total $182,000 loan amount, the SBA guaranteed $91,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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