Willmar, Minnesota Bank Lends Money to Funeral Homes And Funeral Services Company in Willmar, Minnesota

Thinking about meeting with a Willmar, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Willmar bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local firm in Willmar, Minnesota. They got an SBA loan for $304,500. Great job!

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
WILLMAR, MN 56201

SBA Loan Lender

BREMER BANK
302 SW 5TH ST
WILLMAR, MN 56201

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

5/7/2004

Loan Approval Gross Amount

$304,500

Loan Approval from the SBA

Of the total $304,500 loan amount, the SBA guaranteed $228,375.

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 12 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

Best Willmar, Minnesota Banks for Small Business

Getting an SBA Loan in Minnesota