Entrepreneur Works With Vernon Center, Minnesota Bank to Get an SBA Loan

Find Vernon Center, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Community Bank Vernon Center is one such bank, as evidenced by this SBA loan to one business.

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 local business received funding from Community Bank Vernon Center. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
MANKATO, MN 56001

SBA Loan Lender

COMMUNITY BANK VERNON CENTER
201 E MAIN ST
VERNON CENTER, MN 56090

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$13,000

Loan Approval from the SBA

Of the total $13,000 loan amount, the SBA guaranteed $6,500.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community Bank Vernon Center and they will explain how you can get an SBA loan for your company.

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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