Spring Valley, Minnesota Business Gets SBA-Guaranteed Funding from Eastwood Bank

Eastwood Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

Getting a small business loan in Spring Valley, Minnesota was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Eastwood Bank, operating out of Kasson, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: RECYCLABLE MATERIAL MERCHANT WHOLESALERS
SPRING VALLEY, MN 55975

SBA Loan Lender

EASTWOOD BANK
109 S MANTORVILLE AVE
KASSON, MN 55944

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

423930 - Recyclable Material Merchant Wholesalers

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$48,600

Loan Approval from the SBA

Of the total $48,600 loan amount, the SBA guaranteed $24,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the funding would help generate 1 new job.

Next Steps for Getting an SBA Loan

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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