Madelia, Minnesota Business Gets SBA-Guaranteed Funding from Farmers St. Bank - Madelia Inc.

Farmers St. Bank - Madelia Inc. has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Farmers St. Bank - Madelia Inc., out of Madelia, Minnesota. The loan was granted and they received $150,000 to help grow their Madelia, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
MADELIA, MN 56062

SBA Loan Lender

FARMERS ST. BANK - MADELIA INC.
34 W MAIN
MADELIA, MN 56062

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.

NAICS Code

811192 - Car Washes

Loan Approval Date

5/7/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Farmers St. Bank - Madelia Inc. 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:

VC Firms on Twitter

SBA Approved Banks in Madelia, Minnesota

Find an SBA Lender in Minnesota