United Prairie Bank SBA Loan to Gift, Novelty, And Souvenir Stores Company

United Prairie Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Waseca, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was United Prairie Bank, based in Owatonna, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
WASECA, MN 56093

SBA Loan Lender

UNITED PRAIRIE BANK
110 W ROSE ST
OWATONNA, MN 55060

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

2/22/2006

Loan Approval Gross Amount

$85,800

Loan Approval from the SBA

Of the total $85,800 loan amount, the SBA guaranteed $42,900.

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 14 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 21 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Waseca 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:

VC Firms on Twitter

Good Banks for Small Business in Owatonna, Minnesota

SBA Minnesota Lenders