Sauk Rapids, Minnesota Business Gets SBA-Guaranteed Funding from Farmers & Merchants St. Bank - P

An SBA loan from Farmers & Merchants St. Bank - P typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sauk Rapids, Minnesota business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Sauk Rapids, Minnesota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Farmers & Merchants St. Bank - P, based in Sauk Rapids, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
SAUK RAPIDS, MN 56379

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - P
1301 2ND ST NORTH
SAUK RAPIDS, MN 56379

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1629 - Heavy Construction

NAICS Code

234990 - Heavy Construction

Loan Approval Date

10/18/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 10 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Obtaining Funding - Friends and Family

SBA 7A Lenders in Sauk Rapids, Minnesota

Getting an SBA Loan in Minnesota