Pine River, Minnesota Business Gets SBA-Guaranteed Funding from Pine River State Bank

An SBA loan from Pine River State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pine River, Minnesota business owner got a $70,000 loan.

Getting a small business loan in Pine River, Minnesota was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Pine River State Bank, operating out of Pine River, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PINE RIVER, MN 56474

SBA Loan Lender

PINE RIVER STATE BANK
103 MILL ST
PINE RIVER, MN 56474

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

1/21/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

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 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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

Microlending as a Small Business Funding Source

SBA 7A Banks in Pine River, Minnesota

Minnesota SBA 7A Banks