Commercial Loans for Sewing, Needlework, and Piece Goods Stores

Looking for commercial loans for sewing, needlework, and piece goods stores? The SBA may be the answer. This $48,000 sewing, needlework, and piece goods stores loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Kleinbank, out of Montevideo, Minnesota. The loan was granted and they received $48,000 to help grow their Montevideo, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
MONTEVIDEO, MN 56265

SBA Loan Lender

KLEINBANK
101 S FIRST ST
MONTEVIDEO, MN 56265

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451130 - Sewing, Needlework, and Piece Goods Stores

Loan Approval Date

10/20/2003

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $40,800.

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. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Montevideo MN, you ought to talk with a local Montevideo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montevideo businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $48,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Advice on Getting a Small Business Loan

Small Business Banks in Montevideo, Minnesota

Getting a Business Loan in Minnesota