Frandsen Bank & Trust Gives Small Business Loan to Cut Stock, Resawing Lumber, And Planning Company

Want a Minnesota bank loan? This Minnesota entrepreneur got a bank loan, provided by a Minnesota bank that works with the SBA to help small business owners.

This company, based in Foreston, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Frandsen Bank & Trust. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT STOCK, RESAWING LUMBER, AND PLANNING
FORESTON, MN 56330

SBA Loan Lender

FRANDSEN BANK & TRUST
341 4TH AVE
FOLEY, MN 56329

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

321912 - Cut Stock, Resawing Lumber, and Planning

Loan Approval Date

11/21/2003

Loan Approval Gross Amount

$196,000

Loan Approval from the SBA

Of the total $196,000 loan amount, the SBA guaranteed $98,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 32 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Foreston MN, you ought to talk with a local Foreston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Foreston businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Frandsen Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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