Borrowing Money for Residential Remodelers

Looking for loans for residential remodelers? Talk to a banker who works with the SBA. This $30,000 residential remodelers loan was issued by a Minnesota bank.

This small firm 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 2006. The lending bank was Community Bank Owatonna, based in Owatonna, Minnesota.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
OWATONNA, MN 55060

SBA Loan Lender

COMMUNITY BANK OWATONNA
640 BRIDGE ST
OWATONNA, MN 55060

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

236118 - Residential Remodelers

Loan Approval Date

7/3/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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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