Business Loans for Grain and Field Bean Wholesalers

Looking for business loans for grain and field bean wholesalers? Talk to a banker who works with the SBA. This $2,000,000 grain and field bean wholesalers loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Paul, Minnesota was able to borrow $2,000,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $1,500,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN WHOLESALERS
ST. PAUL, MN 55102

SBA Loan Lender

WELLS FARGO BANK
125 MAIN ST
WINONA, MN 55987

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 14 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Borrowing Money from Friends and Family

SBA 7A Banks for Winona, Minnesota Loans

Minnesota SBA Banks