Kasson, Minnesota Bank Lends Money to Recyclable Material Merchant Wholesalers Company in Spring Valley, Minnesota

Want to talk with a Kasson, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Kasson bank, that was approved by the SBA.

Applying for an SBA loan with Eastwood Bank worked out well for our friends at one local firm in Spring Valley, Minnesota. They received an SBA loan for $44,800. Awesome!

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

12/11/2007

Loan Approval Gross Amount

$44,800

Loan Approval from the SBA

Of the total $44,800 loan amount, the SBA guaranteed $22,400.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find other ways to get money to start a business, 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.

Related Links:

How to Raise Money

Where to Get an SBA Loan in Kasson, Minnesota

SBA Participating Banks in Minnesota