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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Owatonna, Business Loans > United Prairie Bank Owatonna Business Loans > New Single-Family Housing Construction Loan | ||||
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What Does It Take to Get a Business Loan in Owatonna, Minnesota?
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Where to Get Capital for New Single-Family Housing ConstructionLooking for SBA loans for new single-family housing construction? The SBA may be the answer. This $33,000 new single-family housing construction loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Owatonna, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was United Prairie Bank, based in Owatonna, Minnesota. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender UNITED PRAIRIE BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 236115 - New Single-Family Housing Construction Loan Approval Date 7/26/2005 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $16,500. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks for Owatonna, Minnesota Loans
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