Borrowing Money for Millwork

With these bank loans for millwork, the SBA guarantees the lender that the loan will be repaid. This millwork loan for $37,500 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Owatonna, Minnesota was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Owatonna, operating out of Owatonna, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MILLWORK
OWATONNA, MN 55060

SBA Loan Lender

COMMUNITY BANK OWATONNA
640 BRIDGE ST
OWATONNA, MN 55060

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321918 - Millwork

Loan Approval Date

2/4/2004

Loan Approval Gross Amount

$37,500

Loan Approval from the SBA

Of the total $37,500 loan amount, the SBA guaranteed $31,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Owatonna MN, you ought to talk with a local Owatonna SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Owatonna businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community Bank Owatonna so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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SBA Approved Banks in Owatonna, Minnesota

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