Sandstone, Minnesota Bank Gives SBA Loan to Drinking Places Company

Find Sandstone, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. First National Bank - No. is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Rutledge, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First National Bank - No.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
RUTLEDGE, MN 55795

SBA Loan Lender

FIRST NATIONAL BANK - NO.
510 MAIN ST
SANDSTONE, MN 55072

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $146,250.

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

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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Who Lends Money to Small Businesses in Sandstone, Minnesota

Minnesota SBA 7A Lenders