Where to Get Capital for General Merchandise Stores

With these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $437,000 was given to a Minnesota entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Waite Park, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bankvista, based in Sartell, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
WAITE PARK, MN 56387

SBA Loan Lender

BANKVISTA
125 TWIN RIVERS CT
SARTELL, MN 56377

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

10/24/2007

Loan Approval Gross Amount

$437,000

Loan Approval from the SBA

Of the total $437,000 loan amount, the SBA guaranteed $327,750.

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 120 employees. The loan application indicated that the loan would help retain 120 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Bankvista 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:

Borrowing Money from Friends and Family

Small Business Banks in Sartell, Minnesota

Minnesota SBA Banks