1st United Bank Gives SBA Loan to Bowling Centers Company

Business loans in Minnesota are hard to find these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Owatonna, Minnesota was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st United Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BOWLING CENTERS
OWATONNA, MN 55060

SBA Loan Lender

1ST UNITED BANK
495 NORTH ST WEST
OWATONNA, MN 55060

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713950 - Bowling Centers

Loan Approval Date

8/12/2003

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $540,000 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.

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