State Bank Of Kimball Gives Bank Loan to Computer Integrated Systems Design Company

Business loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

By giving the right information to State Bank Of Kimball, this St. Cloud, Minnesota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: COMPUTER INTEGRATED SYSTEMS DESIGN
ST. CLOUD, MN 56301

SBA Loan Lender

STATE BANK OF KIMBALL
75 N MAIN ST
KIMBALL, MN 55353

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.

SIC Code

7373 - Computer Integrated Systems Design

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

3/13/2001

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $91,800.

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 75 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We can help you find the best banks for small businesses in St. Cloud or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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