SBA Loan from 1st National Bank - Elk River Helps Lawn And Garden Services Company

1st National Bank - Elk River has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Zimmerman, Minnesota, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was 1st National Bank - Elk River, based in Elk River, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN SERVICES
ZIMMERMAN, MN 55398

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
729 MAIN ST
ELK RIVER, MN 55330

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

4/1/2003

Loan Approval Gross Amount

$27,500

Loan Approval from the SBA

Of the total $27,500 loan amount, the SBA guaranteed $23,375.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $27,500 loan. Remember, if it to be, it is up to me!

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 Cash Advances

Small Business Banks in Elk River, Minnesota

Minnesota SBA 7A Lenders