Eastwood Bank SBA Loan to Natural Gas Distribution Company

An SBA loan from Eastwood Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Racine, Minnesota business owner got a $666,600 loan.

This small firm knew how to go about getting a business bank loan. Based in Racine, Minnesota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Eastwood Bank, based in Stewartville, Minnesota.

SBA Loan Borrower

COMPANY TYPE: NATURAL GAS DISTRIBUTION
RACINE, MN 55967

SBA Loan Lender

EASTWOOD BANK
119 E FIRST ST
STEWARTVILLE, MN 55976

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

221210 - Natural Gas Distribution

Loan Approval Date

11/18/2002

Loan Approval Gross Amount

$666,600

Loan Approval from the SBA

Of the total $666,600 loan amount, the SBA guaranteed $499,950.

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 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Eastwood Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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