Where to Get Capital for Grain and Field Bean Wholesalers

Looking for SBA loans for grain and field bean wholesalers? Try the SBA. This $360,000 grain and field bean wholesalers loan was issued by a Minnesota bank.

Getting a small business loan in Owatonna, Minnesota was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Prairie Bank-Owatonna, operating out of Owatonna, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN WHOLESALERS
OWATONNA, MN 55060

SBA Loan Lender

UNITED PRAIRIE BANK-OWATONNA
110 W ROSE ST
OWATONNA, MN 55060

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

5/10/2002

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Prairie Bank-Owatonna had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Prairie Bank-Owatonna made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Choosing VC Firms

Find an SBA Lender in Owatonna, Minnesota

SBA Lenders in Minnesota