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November 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Winona, Business Loans > Winona National Bank Winona Business Loans > Limited-Service Restaurants Loan | ||||
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SBA Loan from Winona National Bank
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SBA Loan from Winona National Bank Helps Limited-Service Restaurants CompanyAn SBA loan from Winona National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stockton, Minnesota business owner got a $150,000 loan. This growing company knew how to go about getting a business bank loan. Based in Stockton, Minnesota, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Winona National Bank, based in Winona, Minnesota. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender WINONA NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/25/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Winona National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Winona National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Banks in Winona, Minnesota
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