Get an SBA Loan for Residential Mental Retardation Facilities

With these loans for residential mental retardation facilities, the SBA guarantees the lender that the loan will be repaid. This residential mental retardation facilities loan for $25,000 was given to a Minnesota entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Sauk Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First National Bank Minnesota, based in Mankato, Minnesota.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL MENTAL RETARDATION FACILITIES
SAUK RAPIDS, MN 56379

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
500 LONG ST
MANKATO, MN 56001

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

623210 - Residential Mental Retardation Facilities

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 309 employees. The SBA loan application for the borrower indicated that the loan would help create 8 new jobs.

Start the Process for Getting an SBA Loan Today!

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

We can help you find the best banks for small businesses in Sauk Rapids 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.

Related Links:

Small Business Credit Cards

Good Banks for Small Business in Mankato, Minnesota

SBA Minnesota Lenders