Horse and Equine Production Bank Loans

Looking for bank loans for horse and equine production? Try the SBA. This $65,000 horse and equine production loan was issued by a Minnesota bank.

Getting a small business loan in Monticello, Minnesota was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Elk River, operating out of Monticello, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HORSES AND OTHER EQUINES
MONTICELLO, MN 55362

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
146 W BROADWAY
MONTICELLO, MN 55362

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0272 - Horses and Other Equines

NAICS Code

112920 - Horse and Equine Production

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $52,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Elk River that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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