Dried and Dehydrated Food Manufacturing Loans

Looking for loans for dried and dehydrated food manufacturing? The SBA may be the answer. This $20,000 dried and dehydrated food manufacturing loan was issued by a Minnesota bank.

This company knew how to go about getting a business bank loan. Based in Minnetonka, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Minnetonka City Bank, based in Minnetonka, Minnesota.

SBA Loan Borrower

COMPANY TYPE: DRIED AND DEHYDRATED FRUITS, VEGETABLES, AND SOUP
MINNETONKA, MN 55305

SBA Loan Lender

FIRST MINNETONKA CITY BANK
11500 HWY 7
MINNETONKA, MN 55343

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2034 - Dried and Dehydrated Fruits, Vegetables, and Soup

NAICS Code

311423 - Dried and Dehydrated Food Manufacturing

Loan Approval Date

12/6/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Direct Public Offerings

SBA Banks in Minnetonka, Minnesota

Minnesota SBA Banks