Worthington, Minnesota Business Gets SBA-Guaranteed Funding from United Prairie Bank

An SBA loan from United Prairie Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Worthington, Minnesota business owner got a $11,300 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with United Prairie Bank, out of Worthington, Minnesota. The loan was granted and they received $11,300 to help grow their Worthington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
WORTHINGTON, MN 56187

SBA Loan Lender

UNITED PRAIRIE BANK
905 MCMILLAN ST
WORTHINGTON, MN 56187

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

5461 - Retail Bakeries

Loan Approval Date

4/27/2000

Loan Approval Gross Amount

$11,300

Loan Approval from the SBA

Of the total $11,300 loan amount, the SBA guaranteed $9,040.

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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Dealing With Venture Capitalists

Small Business Banks in Worthington, Minnesota

Getting an SBA Loan in Minnesota