Kanabec State Bank Gives Business Loan to Nursery And Garden Centers Company

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

This company, based in Mora, 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 Kanabec State Bank. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
MORA, MN 55051

SBA Loan Lender

KANABEC STATE BANK
124 MAPLE AVE EAST
MORA, MN 55051

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

9/18/2006

Loan Approval Gross Amount

$172,000

Loan Approval from the SBA

Of the total $172,000 loan amount, the SBA guaranteed $86,000.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Kanabec State Bank 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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SBA Approved Banks in Mora, Minnesota

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