Citizens St. Bank - Clara City Gives SBA Loan to Radio, Television, And Electronics Stores Company

MinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan.

This small business, based in Montevideo, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens St. Bank - Clara City. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES
MONTEVIDEO, MN 56265

SBA Loan Lender

CITIZENS ST. BANK - CLARA CITY
180 8TH AVE
GRANITE FALLS, MN 56241

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $19,550.

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 15 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Montevideo 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.

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