Beer, Wine, and Liquor Stores Bank Loans

Looking for bank loans for beer, wine, and liquor stores? An SBA loan may be just what you've been looking for. This $600,000 beer, wine, and liquor stores loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Zimmerman (lake Fremont), Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Peoples Bank Of Commerce, based in Cambridge, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
ZIMMERMAN (LAKE FREMONT), MN 55398

SBA Loan Lender

PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

3/23/2007

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples Bank Of Commerce 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:

Accountant's Role in Securing Financing

SBA 7A Banks in Cambridge, Minnesota

Minnesota SBA 7A Banks