Store Retailers Loans

Looking for loans for store retailers? Talk to a banker who works with the SBA. This $115,000 store retailers loan was issued by a Minnesota bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Farmers State Bank Of Sherburn, out of Sherburn, Minnesota. The loan was granted and they received $115,000 to help grow their Sherburn, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
SHERBURN, MN 56171

SBA Loan Lender

FARMERS STATE BANK OF SHERBURN
33 N MAIN
SHERBURN, MN 56171

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

4/27/2004

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Farmers State Bank Of Sherburn and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Line of Credit

Banks in Sherburn, Minnesota

Find an SBA Lender in Minnesota