Small Business Loans for Farm Supplies Wholesalers

With these small business loans for farm supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm supplies wholesalers loan for $1,600,000 was given to a Minnesota entrepreneur in 2005.

Getting a small business loan in Maple Plain, Minnesota was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank, operating out of Eagan, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
MAPLE PLAIN, MN 55359

SBA Loan Lender

BREMER BANK
1995 RAHN-CLIFF CT
EAGAN, MN 55122

This SBA small business 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

9/30/2005

Loan Approval Gross Amount

$1,600,000

Loan Approval from the SBA

Of the total $1,600,000 loan amount, the SBA guaranteed $1,440,000.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

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

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.

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.

Related Links:

How to Raise Money

Small Business Banks in Eagan, Minnesota

Getting an SBA Loan in Minnesota