Woodlands National Bank Gives Business Loan to Repossession Services Company

Want a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in Sturgeon Lake, Minnesota was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Woodlands National Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: REPOSSESSION SERVICES
STURGEON LAKE, MN 55783

SBA Loan Lender

WOODLANDS NATIONAL BANK
424 MAIN ST
HINCKLEY, MN 55037

The lender provided this SBA business 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

561491 - Repossession Services

Loan Approval Date

3/14/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Sturgeon Lake MN, you ought to talk with a local Sturgeon Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sturgeon Lake businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Woodlands National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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Where to Get an SBA Loan in Hinckley, Minnesota

SBA Lenders in Minnesota