Business Loan from Kleinbank Given to Hardware Stores Company

An SBA loan from Kleinbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Norwood, Minnesota business owner got a $65,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norwood, Minnesota was able to borrow $65,500 from Kleinbank. The SBA made the loan possible by guaranteeing $55,675 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
NORWOOD, MN 55368

SBA Loan Lender

KLEINBANK
611 ROSE DR
BIG LAKE, MN 55318

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

444130 - Hardware Stores

Loan Approval Date

2/24/2006

Loan Approval Gross Amount

$65,500

Loan Approval from the SBA

Of the total $65,500 loan amount, the SBA guaranteed $55,675.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 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.

This SBA loan was for $65,500. How would you spend $65,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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