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November 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Fairmont, Business Loans > First Farmers & Merchants Natl Fairmont Business Loans > Hand And Edge Tool Manufacturing Loan | ||||
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First Farmers & Merchants Natl
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Business Loan from First Farmers & Merchants Natl Given to Hand And Edge Tool Manufacturing CompanyFirst Farmers & Merchants Natl has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in Winnebago, Minnesota was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Farmers & Merchants Natl, operating out of Fairmont, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: HAND AND EDGE TOOL MANUFACTURING SBA Loan Lender FIRST FARMERS & MERCHANTS NATL The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial 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 332212 - Hand and Edge Tool Manufacturing Loan Approval Date 1/9/2002 Loan Approval Gross Amount $755,000 Loan Approval from the SBA Of the total $755,000 loan amount, the SBA guaranteed $566,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 26 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Farmers & Merchants Natl had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Farmers & Merchants Natl 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: Small Bank Loans in Fairmont, Minnesota
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