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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Freeport, Business Loans > Freeport State Bank Freeport Business Loans > Mobile Food Services Loan | ||||
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Melrose, Minnesota Bank Loan
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Firm Gets a Minnesota Bank LoanMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in Melrose, Minnesota was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Freeport State Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: MOBILE FOOD SERVICES SBA Loan Lender FREEPORT STATE BANK This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 722330 - Mobile Food Services Loan Approval Date 10/18/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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. This SBA loan request indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Freeport, Minnesota Loans
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