Peoples State Bank Of Wells Gives Small Business Loan to Carpentry Work Company

Would a Minnesota SBA loan help your business get to the next level? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

This small business, based in Wells, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Peoples State Bank Of Wells. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CARPENTRY WORK
WELLS, MN 56097

SBA Loan Lender

PEOPLES STATE BANK OF WELLS
98 3RD ST SE
WELLS, MN 56097

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

1751 - Carpentry Work

NAICS Code

235510 - Carpentry Contractors

Loan Approval Date

4/4/2000

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

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

If you want money for new small business in Wells MN, you ought to talk with a local Wells SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wells businesses.

We can help you find the best banks for small businesses in Wells 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.

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