Americana Community Bank Gives Bank Loan to Eating Places Company

Small business loans in Minnesota are hard to find these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

This company, based in Sleepy Eye, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Americana Community Bank. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SLEEPY EYE, MN 26085

SBA Loan Lender

AMERICANA COMMUNITY BANK
300 MAIN ST WEST
SLEEPY EYE, MN 56085

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Americana Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Sleepy Eye, Minnesota

SBA Participating Banks in Minnesota