Rogers, Minnesota Business Gets SBA-Guaranteed Funding from 1st National Bank - Elk River

1st National Bank - Elk River has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Rogers, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was 1st National Bank - Elk River, based in Elk River, Minnesota.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ROGERS, MN 55374

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
729 MAIN ST
ELK RIVER, MN 55330

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

332710 - Machine Shops

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Rogers MN, you ought to talk with a local Rogers SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rogers businesses.

We can help you find the best banks for small businesses in Rogers or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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