Entrepreneur Works With Hampton, Minnesota Bank to Get an SBA Loan

Get small business loans from a Hampton, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Merchants Bank is a Hampton, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Wisconsin company.

SBA Loan Borrower

COMPANY TYPE: COSMETOLOGY AND BARBER SCHOOLS
ONALASKA, WI 54650

SBA Loan Lender

MERCHANTS BANK
23280 MAIN ST
HAMPTON, MN 55031

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611511 - Cosmetology and Barber Schools

Loan Approval Date

3/30/2006

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Onalaska WI, you ought to talk with a local Onalaska SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Onalaska businesses.

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:

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Best Hampton, Minnesota Banks for Small Business

Where to Get an SBA Loan Minnesota