North Mankato, Minnesota Bank Gives SBA Loan to Car Washes Company

Get to know North Mankato, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Pioneer Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MANKATO, MN 56001

SBA Loan Lender

PIONEER BANK
1735 COMMERCE DR
NORTH MANKATO, MN 56003

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/26/2006

Loan Approval Gross Amount

$212,501

Loan Approval from the SBA

Of the total $212,501 loan amount, the SBA guaranteed $159,376.

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 5 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

If you need business start up money in Mankato MN, you ought to talk with a local Mankato SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mankato businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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SBA Participating Banks in North Mankato, Minnesota

Minnesota SBA 7A Lenders