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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Pine City, Business Loans > Horizon Bank Pine City Business Loans > Grocery Stores Loan | ||||
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Minnesota Bank SBA Loans
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Horizon Bank SBA Loan to Grocery Stores CompanyLooking to get a Minnesota business loan? Here's one Minnesota business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Forest Lake, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Horizon Bank, based in Pine City, Minnesota. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender HORIZON BANK This lender issued this particular loan 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 5411 - Grocery Stores Loan Approval Date 6/19/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you have been wondering how do i get money to start a business in Forest Lake MN, you ought to talk with a local Forest Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Forest Lake businesses. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Pine City, Minnesota
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