Midcountry Bank SBA Loan to Coating, Engraving, And Allied Services Company

Searching for a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA.

This small business needed an SBA business loan in Waite Park, Minnesota back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Midcountry Bank, operating out of Saint Cloud, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COATING, ENGRAVING, AND ALLIED SERVICES
WAITE PARK, MN 56387

SBA Loan Lender

MIDCOUNTRY BANK
1113 W ST. GERMAIN ST
SAINT CLOUD, MN 56301

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires 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.

SIC Code

3479 - Coating, Engraving, and Allied Services

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

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 3 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Waite Park or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Friends and Family Network

SBA Participating Banks in Saint Cloud, Minnesota

Find an SBA Lender in Minnesota