SBA Loan from Peoples National Bank Of Mora Helps Equipment Rental And Leasing Company

An SBA loan from Peoples National Bank Of Mora typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mora, Minnesota business owner got a $119,500 loan.

This small firm knew how to go about getting a business bank loan. Based in Mora, Minnesota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Peoples National Bank Of Mora, based in Mora, Minnesota.

SBA Loan Borrower

COMPANY TYPE: EQUIPMENT RENTAL AND LEASING
MORA, MN 55051

SBA Loan Lender

PEOPLES NATIONAL BANK OF MORA
45 N UNION
MORA, MN 55051

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

7359 - Equipment Rental and Leasing

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

3/20/2002

Loan Approval Gross Amount

$119,500

Loan Approval from the SBA

Of the total $119,500 loan amount, the SBA guaranteed $101,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Advice on Getting a Small Business Loan

Where to Get an SBA Loan in Mora, Minnesota

Where to Get an SBA Loan Minnesota