Entrepreneur Works With Alexandria, Minnesota Bank to Get an SBA Loan

Want to talk with an Alexandria, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by an Alexandria bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local firm in Parkers Prairie, Minnesota. The business was able to get an SBA loan for $566,232. Nice!

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
PARKERS PRAIRIE, MN 56361

SBA Loan Lender

BREMER BANK
720 BROADWAY
ALEXANDRIA, MN 56308

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

1/9/2003

Loan Approval Gross Amount

$566,232

Loan Approval from the SBA

Of the total $566,232 loan amount, the SBA guaranteed $424,674.

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 22 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bremer Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bremer Bank 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:

Small Business Loan

Where to Get an SBA Loan in Alexandria, Minnesota

Minnesota SBA 7A Banks