Minnesota Small Business Loan Issued to Supermarkets And Grocery Stores Company

Small business loans in Minnesota are tough to come by these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

This business, based in Akeley, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank Of Walker. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
AKELEY, MN 56433

SBA Loan Lender

FIRST NATIONAL BANK OF WALKER
600 MINNESOTA AVE WEST
WALKER, MN 56484

This debt financing 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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

1/18/2006

Loan Approval Gross Amount

$187,460

Loan Approval from the SBA

Of the total $187,460 loan amount, the SBA guaranteed $140,595.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank Of Walker and they will explain how you can get an SBA loan for your company.

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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