Firm Gets a Minnesota SBA Loan

Would a Minnesota small business loan help your small business to grow and prosper? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in Menton, 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 Ultima Bank Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMODITY CONTRACTS BROKERAGE
MENTON, MN 56736

SBA Loan Lender

ULTIMA BANK MINNESOTA
649 MAIN ST
WINGER, MN 56592

This bank 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

523140 - Commodity Contracts Brokerage

Loan Approval Date

4/8/2004

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $540,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Menton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Small Business Loan

Find an SBA Lender in Winger, Minnesota

SBA Lenders in Minnesota