 |
 |
November 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ottertail, Business Loans > 1st National Bank - Henning Ottertail Business Loans > Nonupholstered Wood Household Furniture Manufacturing Loan | ||||
 |
||||
How to Get SBA Money in Ottertail, Minnesota
|
||||
 |
Ottertail, Minnesota Entrepreneur Gets a Bank LoanWant a Minnesota bank loan? This Minnesota entrepreneur got a bank loan, provided by a Minnesota bank that works with the SBA to help small business owners. Getting a small business loan in Ottertail, Minnesota was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Henning. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender 1ST NATIONAL BANK - HENNING This lender issued this business loan under the SBA 7A lending 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 337122 - Nonupholstered Wood Household Furniture Manufacturing Loan Approval Date 10/12/2005 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $235,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Obtaining Funding - Friends and Family Best Banks for Small Business in Ottertail, Minnesota Browse All Business Loan Sources for Minnesota
|
|
||
|
||||
|
|
||||