Pelican Rapids, Minnesota Lender Lends Money to Eating Places Company

Get business loans from a Pelican Rapids, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Lake Country State Bank is a Pelican Rapids, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PELICAN RAPIDS, MN 56572

SBA Loan Lender

LAKE COUNTRY STATE BANK
1001 S BROADWAY
PELICAN RAPIDS, MN 56572

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/5/2002

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

If you have been wondering how do i get money to start a business in Pelican Rapids MN, you ought to talk with a local Pelican Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pelican Rapids businesses.

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

Alternative Financing

Small Business Banks in Pelican Rapids, Minnesota

Minnesota SBA Bank Lenders