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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Rochester, Business Loans > Home Federal Savings Bank Rochester Business Loans > Sporting And Athletic Goods Manufacturing Loan | ||||
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SBA Lenders Minnesota
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Entrepreneur Works With Rochester, Minnesota Bank to Get an SBA LoanFind Rochester, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Home Federal Savings Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Burnsville, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Home Federal Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SPORTING AND ATHLETIC GOODS MANUFACTURING SBA Loan Lender HOME FEDERAL SAVINGS BANK This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339920 - Sporting and Athletic Goods Manufacturing Loan Approval Date 5/18/2005 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. 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 7 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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: Obtaining Funding From a Venture Capitalist
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