Redwood Falls, Minnesota Lender Lends Money to Marketing Consulting Services Company

Get to know Redwood Falls, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Hometown Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in St. Peter, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Hometown Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MARKETING CONSULTING SERVICES
ST. PETER, MN 56082

SBA Loan Lender

HOMETOWN BANK
301 S WASHINGTON ST
REDWOOD FALLS, MN 56283

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541613 - Marketing Consulting Services

Loan Approval Date

12/21/2006

Loan Approval Gross Amount

$128,500

Loan Approval from the SBA

Of the total $128,500 loan amount, the SBA guaranteed $109,225.

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 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $128,500 loan. Remember, things become real when you believe you can achieve them!

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:

The Friends and Family Network

SBA 7A Banks for Redwood Falls, Minnesota Loans

Minnesota SBA 7A Banks