Sewing, Needlework, and Piece Goods Stores Business Loans

Looking for business loans for sewing, needlework, and piece goods stores? Talk to a banker who works with the SBA. This $50,000 sewing, needlework, and piece goods stores loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in St. Peter, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First National Bank Minnesota, based in Saint Peter, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
ST. PETER, MN 56082

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5949 - Sewing, Needlework, and Piece Goods Stores

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in St. Peter MN, you ought to talk with a local St. Peter SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St. Peter businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank Minnesota and they will explain how you can get an SBA loan for your company.

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:

Role of Business Plan When Raising Money

Who Lends Money to Small Businesses in Saint Peter, Minnesota

Minnesota SBA Banks