Eyota, Minnesota Bank Lends Money to Sausages And Other Prepared Meat Products Company in Eyota, Minnesota

An Eyota, Minnesota business loan can be yours. Learn how a business got a $75,000 business loan from this Minnesota bank.

This loan to a local firm is a good example of an SBA loan. Eastwood Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: SAUSAGES AND OTHER PREPARED MEAT PRODUCTS
EYOTA, MN 55934

SBA Loan Lender

EASTWOOD BANK
27 2ND ST SW
EYOTA, MN 55934

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2013 - Sausages and Other Prepared Meat Products

NAICS Code

311613 - Rendering and Meat Byproduct Processing

Loan Approval Date

9/27/2001

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Eastwood Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Eastwood Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Friends and Family Network

Where to Get an SBA Loan in Eyota, Minnesota

Minnesota SBA 7A Banks