SBA Loan from Ultima Bank Minnesota Helps Baked Goods Stores Company

An SBA loan from Ultima Bank Minnesota typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mcintosh, Minnesota business owner got a $60,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Mcintosh, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Ultima Bank Minnesota, based in Winger, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
MCINTOSH, MN 56556

SBA Loan Lender

ULTIMA BANK MINNESOTA
649 MAIN ST
WINGER, MN 56592

This commercial 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

445291 - Baked Goods Stores

Loan Approval Date

10/14/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Ultima Bank Minnesota that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 7A Banks for Winger, Minnesota Loans

SBA Lenders in Minnesota