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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Willmar, Business Loans > Home State Bank Willmar Business Loans > Marine Products Loan | ||||
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SBA Lender Willmar Minnesota
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Minnesota Small Business Loan Issued to Marine Products CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. You can learn something about getting a small business loan in Willmar, Minnesota by studying this loan to a local company, made back in 2002. Banks like Home State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MARINE PRODUCTS SBA Loan Lender HOME STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0919 - Marine Products NAICS Code 114119 - Marine Fishing Loan Approval Date 5/7/2002 Loan Approval Gross Amount $31,330 Loan Approval from the SBA Of the total $31,330 loan amount, the SBA guaranteed $26,630. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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 7A Banks for Willmar, Minnesota Loans
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