SBA Loan from Central Minnesota Fcu Helps Soil Preparation, Planting, And Cultivating Company

Central Minnesota Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Melrose, Minnesota was an essential business goal for this small business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Central Minnesota Fcu, operating out of Melrose, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION, PLANTING, AND CULTIVATING
MELROSE, MN 56352

SBA Loan Lender

CENTRAL MINNESOTA FCU
20 S 4TH AVE EAST
MELROSE, MN 56352

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.

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

1/25/2008

Loan Approval Gross Amount

$349,020

Loan Approval from the SBA

Of the total $349,020 loan amount, the SBA guaranteed $261,765.

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 9 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Much Venture Capital Is There?

SBA Approved Banks in Melrose, Minnesota

Getting a Business Loan in Minnesota