Litchfield, Minnesota Bank Lends Money to Residential Property Managers Company in New Hope, Minnesota

Get to know Litchfield, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Home State Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL PROPERTY MANAGERS
NEW HOPE, MN 55428

SBA Loan Lender

HOME STATE BANK
1435 E HWY 12
LITCHFIELD, MN 55355

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

531311 - Residential Property Managers

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$295,000

Loan Approval from the SBA

Of the total $295,000 loan amount, the SBA guaranteed $147,500.

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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

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

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $295,000 loan. Remember, things become real when you believe you can achieve them!

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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