Kleinbank Gives Business Loan to Liquor Stores Company

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

You can learn something about getting a small business loan in St Bonifacius, Minnesota by studying this loan to a local business, made back in 2000. Banks like Kleinbank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
ST BONIFACIUS, MN 55375

SBA Loan Lender

KLEINBANK
53 W MAIN ST
WACONIA, MN 55387

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

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/23/2000

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $39,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, 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:

Determining Proper Capital Structure for a Business

Banks in Waconia, Minnesota

Getting an SBA Loan in Minnesota