Lake Crystal, Minnesota Bank Gives SBA Loan to Supermarkets And Grocery Stores Company

Find Lake Crystal, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Minnstar Bank 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 small business received funding from Minnstar Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
MANKATO, MN 56001

SBA Loan Lender

MINNSTAR BANK
202 N MAIN ST
LAKE CRYSTAL, MN 56055

This bank 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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

4/16/2007

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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 6 employees. The SBA loan documents indicated that the funding would help generate 6 new jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $70,000 loan. Remember, feel the fear, and do it anyway.

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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