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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Thief River Falls, Business Loans > Border State Bank Thief River Falls Business Loans > Commodity Contracts Brokerage Loan | ||||
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Examples of Mentor SBA Loans
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Raising Money for Commodity Contracts BrokerageLooking for bank loans for commodity contracts brokerage? An SBA loan may be just what you've been looking for. This $1,000,000 commodity contracts brokerage loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Border State Bank, out of Thief River Falls, Minnesota. The loan was granted and they received $1,000,000 to help grow their Mentor, Minnesota business. SBA Loan Borrower COMPANY TYPE: COMMODITY CONTRACTS BROKERAGE SBA Loan Lender BORDER STATE BANK This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 523140 - Commodity Contracts Brokerage Loan Approval Date 4/27/2005 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $900,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,000,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Where to Get an SBA Loan in Thief River Falls, Minnesota
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