Pelican Rapids, Minnesota Business Gets SBA-Guaranteed Funding from State Bank & Trust

State Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Pelican Rapids, Minnesota was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from State Bank & Trust, operating out of Fargo, North Dakota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NEWSPAPER
PELICAN RAPIDS, MN 56572

SBA Loan Lender

STATE BANK & TRUST
3100 13TH AVE SW
FARGO, ND 58103

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2711 - Newspaper

NAICS Code

511110 - Newspaper Publishers

Loan Approval Date

6/21/2001

Loan Approval Gross Amount

$161,800

Loan Approval from the SBA

Of the total $161,800 loan amount, the SBA guaranteed $121,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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