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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Forks, Business Loans > Bremer Bank Grand Forks Business Loans > Liquor Stores Loan | ||||
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SBA 7A Banks for East Grand Forks Businesses
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East Grand Forks, Minnesota Entrepreneur Gets a Bank LoanMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a North Dakota bank provides the loan. This company, based in East Grand Forks, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bremer Bank. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: LIQUOR STORES SBA Loan Lender BREMER BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5921 - Liquor Stores NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 5/23/2000 Loan Approval Gross Amount $24,700 Loan Approval from the SBA Of the total $24,700 loan amount, the SBA guaranteed $19,760. 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. While you may be able to borrow money from friends and family, 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 Banks in Grand Forks, North Dakota
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