Growing Company Gets a Minnesota Bank Loan

Searching for a Minnesota bank loan? This Minnesota entrepreneur got a bank loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in Litchfield, Minnesota was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from State Bank In Eden Valley. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
LITCHFIELD, MN 55355

SBA Loan Lender

STATE BANK IN EDEN VALLEY
359 STATE ST
EDEN VALLEY, MN 55329

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

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

4/22/2003

Loan Approval Gross Amount

$39,000

Loan Approval from the SBA

Of the total $39,000 loan amount, the SBA guaranteed $33,150.

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 company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank In Eden Valley are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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SBA Approved Banks in Eden Valley, Minnesota

SBA Minnesota Lenders