Entrepreneur Works With Saint Cloud, Minnesota Bank to Get an SBA Loan

Find Saint Cloud, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Bremer Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Menomonie, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Bremer Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
Menomonie, WI 54751

SBA Loan Lender

BREMER BANK
1100 W ST. GERMAIN ST
SAINT CLOUD, MN 56301

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326199 - Plastics Product Manufacturing

Loan Approval Date

3/13/2007

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 10 existing jobs.

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

If you need business start up money in Menomonie WI, you ought to talk with a local Menomonie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Menomonie businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bremer Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Approved Banks in Saint Cloud, Minnesota

SBA Minnesota Banks