Red Wing, Minnesota Business Gets SBA-Guaranteed Funding from Hiawatha National Bank

Hiawatha National Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Hiawatha National Bank, out of Hager City, Wisconsin. The loan was granted and they received $80,084 to help grow their Red Wing, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
RED WING, MN 55066

SBA Loan Lender

HIAWATHA NATIONAL BANK
N1555 770TH ST & HWY 35
HAGER CITY, WI 54014

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

6/29/2001

Loan Approval Gross Amount

$80,084

Loan Approval from the SBA

Of the total $80,084 loan amount, the SBA guaranteed $68,071.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

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.

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