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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Balaton, Business Loans > First Independent Bank Balaton Business Loans > Drinking Places Loan | ||||
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First Independent Bank
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First Independent Bank SBA Loan to Drinking Places CompanyFirst Independent Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Slayton, Minnesota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First Independent Bank, based in Balaton, Minnesota. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender FIRST INDEPENDENT BANK This lender issued this particular SBA 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 5813 - Drinking Places NAICS Code 722410 - Drinking Places Loan Approval Date 4/24/2001 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 40 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Slayton MN, you ought to talk with a local Slayton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Slayton businesses. 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: SBA Participating Banks in Balaton, Minnesota SBA Participating Banks in Minnesota
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