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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hudson, Business Loans > Citizens State Bank Hudson Business Loans > Farm And Garden Machinery And Equipment Merchant Wholesalers Loan | ||||
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Mountain Lake SBA Loans
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Local Business Gets a Minnesota SBA LoanLooking to get a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Wisconsin bank that works with the SBA to help small business owners. Getting a small business loan in Mountain Lake, Minnesota was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Citizens State Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender CITIZENS STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423820 - Farm and Garden Machinery and Equipment Merchant Wholesalers Loan Approval Date 3/23/2006 Loan Approval Gross Amount $1,300,000 Loan Approval from the SBA Of the total $1,300,000 loan amount, the SBA guaranteed $1,170,000. 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 79 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $1,300,000 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: SBA 7A Banks in Hudson, Wisconsin
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