Get an SBA Loan for Grain and Field Bean Wholesalers

Looking for small business loans for grain and field bean wholesalers? An SBA loan may be just what you've been looking for. This $1,000,000 grain and field bean wholesalers loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with United Prairie Bank, out of Owatonna, Minnesota. The loan was granted and they received $1,000,000 to help grow their Kasson, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN WHOLESALERS
KASSON, MN 55944

SBA Loan Lender

UNITED PRAIRIE BANK
110 W ROSE ST
OWATONNA, MN 55060

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

11/1/2002

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

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 3 employees. The SBA loan documents did not indicate that the business planned 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United Prairie Bank 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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