Business Loan from Eastwood Bank Given to Optical Goods Stores Company

Eastwood Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Stewartville, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Eastwood Bank, based in Kasson, Minnesota.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
STEWARTVILLE, MN 55976

SBA Loan Lender

EASTWOOD BANK
109 S MANTORVILLE AVE
KASSON, MN 55944

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

10/20/2005

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $58,500.

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 only one employee. The SBA loan application for the borrower indicated that the borrowed money would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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 $117,000 loan. Remember, fight for what you want, and it will be yours!

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:

Investor Turnoffs

Banks in Kasson, Minnesota

Minnesota SBA Banks