Waseca, Minnesota Bank Lends Money to Men's Clothing Stores Company in Waseca, Minnesota

Find Waseca, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Roundbank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Waseca, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Roundbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MEN'S CLOTHING STORES
WASECA, MN 56093

SBA Loan Lender

ROUNDBANK
200 2ND ST NE
WASECA, MN 56093

The lender provided this commercial 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

448110 - Men's Clothing Stores

Loan Approval Date

8/2/2004

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the borrowed money would help create 5 new jobs.

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

If you are wondering how to raise money for a company in Waseca MN, you ought to talk with a local Waseca SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Waseca businesses.

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

Related Links:

Direct Public Offerings

Small Bank Loans in Waseca, Minnesota

Minnesota SBA Bank Lenders