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May 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mahnomen, Business Loans > First National Bank In Mahnomen Mahnomen Business Loans > Household Textile Product Mills Loan | ||||
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Minnesota SBA Lenders
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Entrepreneur Works With Mahnomen, Minnesota Bank to Get an SBA LoanThinking about meeting with a Mahnomen, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Mahnomen bank, that was approved by the SBA. Applying for an SBA loan with First National Bank In Mahnomen worked out well for our friends at one local company in Mahnomen, Minnesota. The business was able to get an SBA loan for $100,000. Awesome! SBA Loan Borrower COMPANY TYPE: HOUSEHOLD TEXTILE PRODUCT MILLS SBA Loan Lender FIRST NATIONAL BANK IN MAHNOMEN This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 314129 - Household Textile Product Mills Loan Approval Date 9/7/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 10 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Lenders in Mahnomen, Minnesota
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