SBA Loans for Funeral Homes and Funeral Services

With these SBA loans for funeral homes and funeral services, the SBA guarantees the lender that the loan will be repaid. This funeral homes and funeral services loan for $1,605,000 was given to a Minnesota entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winona, Minnesota was able to borrow $1,605,000 from Winona National Bank. The SBA made the loan possible by guaranteeing $1,203,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
WINONA, MN 55987

SBA Loan Lender

WINONA NATIONAL BANK
204 MAIN ST
WINONA, MN 55987

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

4/9/2007

Loan Approval Gross Amount

$1,605,000

Loan Approval from the SBA

Of the total $1,605,000 loan amount, the SBA guaranteed $1,203,750.

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

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Winona National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Incubators

Best Winona, Minnesota Banks for Small Business

SBA Lenders in Minnesota