Cannon Falls, Minnesota Bank Lends Money to Cosmetology And Barber Schools Company in Red Wing, Minnesota

Get to know Cannon Falls, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. 1st National Bank In Cannon Falls is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Red Wing, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from 1st National Bank In Cannon Falls. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COSMETOLOGY AND BARBER SCHOOLS
RED WING, MN 55066

SBA Loan Lender

1ST NATIONAL BANK IN CANNON FALLS
300 W MAIN ST
CANNON FALLS, MN 55009

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611511 - Cosmetology and Barber Schools

Loan Approval Date

6/28/2005

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 11 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank In Cannon Falls so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

Best Cannon Falls, Minnesota Banks for Small Business

SBA Minnesota Banks