Borrowing Money for Meat Processed from Carcasses

With these loans for meat processed from carcasses, the SBA guarantees the lender that the loan will be repaid. This meat processed from carcasses loan for $146,000 was given to a Minnesota entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Frandsen Bank & Trust, out of Foley, Minnesota. The loan was granted and they received $146,000 to help grow their Foley, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SAUSAGES AND OTHER PREPARED MEAT PRODUCTS
FOLEY, MN 56329

SBA Loan Lender

FRANDSEN BANK & TRUST
341 4TH AVE
FOLEY, MN 56329

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2013 - Sausages and Other Prepared Meat Products

NAICS Code

311612 - Meat Processed from Carcasses

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $124,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Frandsen Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Family and Friend Investors - Your First Financiers

Small Business Banks in Foley, Minnesota

Getting an SBA Loan in Minnesota