Grand Timber Bank SBA Loan to Retail Stores Company

An SBA loan from Grand Timber Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Aitkin, Minnesota business owner got a $40,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aitkin, Minnesota was able to borrow $40,000 from Grand Timber Bank. The SBA made the loan possible by guaranteeing $34,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
AITKIN, MN 56431

SBA Loan Lender

GRAND TIMBER BANK
204 N MADDY ST
MCGREGOR, MN 55760

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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