Wells Fargo Bank Gives Small Business Loan to Grain And Field Beans Company

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

By giving the right information to Wells Fargo Bank, this Byron, Minnesota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEANS
BYRON, MN 55920

SBA Loan Lender

WELLS FARGO BANK
18 2ND ST SW
DODGE CENTER, MN 55927

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.

SIC Code

5153 - Grain and Field Beans

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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