Waconia, Minnesota Business Gets SBA-Guaranteed Funding from Kleinbank

Kleinbank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waconia, Minnesota was able to borrow $88,200 from Kleinbank. The SBA made the loan possible by guaranteeing $74,970 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
WACONIA, MN 55387

SBA Loan Lender

KLEINBANK
53 W MAIN ST
WACONIA, MN 55387

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

5/20/2002

Loan Approval Gross Amount

$88,200

Loan Approval from the SBA

Of the total $88,200 loan amount, the SBA guaranteed $74,970.

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 did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Kleinbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Kleinbank 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.

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