SBA Loan from 1st National Bank - Buhl Helps Funeral Homes And Funeral Services Company

An SBA loan from 1st National Bank - Buhl typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Virginia, Minnesota business owner got a $50,000 loan.

Getting a small business loan in Virginia, Minnesota was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Buhl, operating out of Buhl, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
VIRGINIA, MN 55792

SBA Loan Lender

1ST NATIONAL BANK - BUHL
121 STATE ST
BUHL, MN 55713

The lender provided this SBA bank 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

812210 - Funeral Homes and Funeral Services

Loan Approval Date

3/8/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from 1st National Bank - Buhl so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

504 Loans

Banks in Buhl, Minnesota

Getting a Business Loan in Minnesota