Growing Company Gets a Minnesota Bank Loan

Bank loans in Minnesota are tough to come by these days. We take a look at one Minnesota bank loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Mapleton, Minnesota was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Pioneer Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOGS
MAPLETON, MN 56065

SBA Loan Lender

PIONEER BANK
301 MAIN ST
MAPLETON, MN 56065

This SBA 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.

SIC Code

0213 - Hogs

NAICS Code

112210 - Hog and Pig Farming

Loan Approval Date

4/2/2001

Loan Approval Gross Amount

$226,876

Loan Approval from the SBA

Of the total $226,876 loan amount, the SBA guaranteed $170,157.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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