Gaylord, Minnesota Lender Lends Money to Hardware Stores Company

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

Applying for an SBA loan with First National Bank Minnesota worked out well for our friends at one local business in Gaylord, Minnesota. They received an SBA loan for $120,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
GAYLORD, MN 55334

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
209 MAIN AVE
GAYLORD, MN 55334

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 6 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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