Loan Census Banking News and Information
May 18, 2024  
 
 
  Business Loan Information  
 

How to Get SBA Loans in St. Michael, Minnesota

 

 
Loan Census SBA Loan Info

Clothing Stores Business Loans

Looking for business loans for clothing stores? The SBA may be the answer. This $181,614 clothing stores loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Michael, Minnesota was able to borrow $181,614 from Riverview Community Bank. The SBA made the loan possible by guaranteeing $136,211 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
ST. MICHAEL, MN 55376

SBA Loan Lender

RIVERVIEW COMMUNITY BANK
9040 QUADAY AVE NE
OTSEGO, MN 55330

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

6/15/2004

Loan Approval Gross Amount

$181,614

Loan Approval from the SBA

Of the total $181,614 loan amount, the SBA guaranteed $136,211.

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 13 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Direct Public Offerings

Banks in Otsego, Minnesota

Minnesota SBA 7A Banks