Business Loan from Farmers & Merchants St. Bank - P Given to Roofing, Siding, And Sheet Metal Work Company

An SBA loan from Farmers & Merchants St. Bank - P typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sauk Rapids, Minnesota business owner got a $150,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Farmers & Merchants St. Bank - P, out of Pierz, Minnesota. The loan was granted and they received $150,000 to help grow their Sauk Rapids, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK
SAUK RAPIDS, MN 56379

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - P
80 MAIN ST
PIERZ, MN 56364

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1761 - Roofing, Siding, and Sheet Metal Work

NAICS Code

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

6/5/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 24 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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