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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Appleton, Business Loans > Farmers & Merchants State Bank Appleton Business Loans > Eating Places Loan | ||||
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Appleton, Minnesota Bank for SBA Loans
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Appleton, Minnesota Bank Gives SBA Loan to Eating Places CompanyThinking about meeting with an Appleton, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Appleton bank, that was approved by the SBA. Applying for an SBA loan with Farmers & Merchants State Bank worked out well for our friends at one local business in Austin, Minnesota. They received an SBA loan for $30,000. Great job! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FARMERS & MERCHANTS STATE BANK 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 5812 - Eating Places Loan Approval Date 3/21/2000 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $24,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $30,000. How would you spend $30,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA Approved Banks in Appleton, Minnesota
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