Entrepreneur Works With Isanti, Minnesota Bank to Get an SBA Loan

Want to talk with an Isanti, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Isanti bank, that was approved by the SBA.

Applying for an SBA loan with Landmark Commun Bank worked out well for our friends at one local business in Cottage Grove, Minnesota. They got an SBA loan for $213,200. Sweet!

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
Cottage Grove, MN 55016

SBA Loan Lender

LANDMARK COMMUN BANK
29 W MAIN ST
ISANTI, MN 55040

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

6/7/2007

Loan Approval Gross Amount

$213,200

Loan Approval from the SBA

Of the total $213,200 loan amount, the SBA guaranteed $159,900.

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 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Landmark Commun Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Banks in Isanti, Minnesota

Getting a Business Loan in Minnesota