Business Loan from Home State Bank Given to Poured Concrete Foundation And Structure Contractors Company

An SBA loan from Home State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Willmar, Minnesota business owner got a $50,800 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Willmar, Minnesota was able to borrow $50,800 from Home State Bank. The SBA made the loan possible by guaranteeing $25,400 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
WILLMAR, MN 56201

SBA Loan Lender

HOME STATE BANK
1435 E HWY 12
LITCHFIELD, MN 55355

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

12/15/2004

Loan Approval Gross Amount

$50,800

Loan Approval from the SBA

Of the total $50,800 loan amount, the SBA guaranteed $25,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Home State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Home State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Famous Venture Capitalists

Find an SBA Lender in Litchfield, Minnesota

Minnesota SBA 7A Lenders