Minnesota SBA Loan Issued to Meat Processed From Carcasses Company

SBA loans in Minnesota are tough to come by these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Renville, Minnesota was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of St. Paul. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MEAT PROCESSED FROM CARCASSES
RENVILLE, MN 56284

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
412 N MAIN ST
RENVILLE, MN 56284

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311612 - Meat Processed from Carcasses

Loan Approval Date

12/16/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $80,000. How would you spend $80,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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