Woodlands National Bank Gives Business Loan to Office Administrative Services Company

Bank loans in Minnesota are hard to find these days. We take a look at one Minnesota bank loan, provided by a Minnesota bank, that was approved by the SBA.

By giving the right information to Woodlands National Bank, this Kerrick, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur 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: OFFICE ADMINISTRATIVE SERVICES
KERRICK, MN 55756

SBA Loan Lender

WOODLANDS NATIONAL BANK
424 E MAIN ST
ONAMIA, MN 56359

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561110 - Office Administrative Services

Loan Approval Date

12/27/2006

Loan Approval Gross Amount

$1,494,656

Loan Approval from the SBA

Of the total $1,494,656 loan amount, the SBA guaranteed $1,120,992.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 51 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Credit Cards

Banks in Onamia, Minnesota

Getting an SBA Loan in Minnesota