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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Tracy, Business Loans > Minnwest Bank South Tracy Business Loans > Grain And Field Bean Wholesalers Loan | ||||
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Amiret, Minnesota Bank Loan
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Grain and Field Bean Wholesalers Commercial LoansWith these commercial loans for grain and field bean wholesalers, the SBA guarantees the lender that the loan will be repaid. This grain and field bean wholesalers loan for $550,000 was given to a Minnesota entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Amiret, Minnesota was able to borrow $550,000 from Minnwest Bank South. The SBA made the loan possible by guaranteeing $412,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GRAIN AND FIELD BEAN WHOLESALERS SBA Loan Lender MINNWEST BANK SOUTH SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422510 - Grain and Field Bean Wholesalers Loan Approval Date 10/10/2003 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 7 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Find an SBA Lender in Minnesota
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