Loans Issued BY The State Bank of Faribault

Loan Amount Company Name Location Lender
$350K-1M BURNSVILLE HEATING & AIR CONDITIONING, INC. Burnsville , MN The State Bank of Faribault
$350K-1M COMMUNITY CO-OP ASSOCIATION Faribault , MN The State Bank of Faribault
$350K-1M RISON HOMES, INC. Faribault , MN The State Bank of Faribault
$350K-1M SOUTHERN MINNESOTA WOODCRAFT, INC. Faribault , MN The State Bank of Faribault
$350K-1M THE CATHOLIC CHURCH OF DIVINE MERCY OF FARIBAULT Faribault , MN The State Bank of Faribault
$150K-350K ARELLANO LLC Maple grove , MN The State Bank of Faribault
$150K-350K ARTUROS LLC Prior lake , MN The State Bank of Faribault
$150K-350K BETHLEHEM ACADEMY CORPORATION Faribault , MN The State Bank of Faribault
$150K-350K DONAHUES GREENHOUSES, INC. Faribault , MN The State Bank of Faribault
$150K-350K FARIBAULT TRANSPORTATION SERVICE, INC. Faribault , MN The State Bank of Faribault
$150K-350K FBO CP INC. Mankato , MN The State Bank of Faribault
$150K-350K FELIPES LLC Saint paul , MN The State Bank of Faribault
$150K-350K GEMINI 26, INC. Faribault , MN The State Bank of Faribault
$150K-350K GOLDSTAR AMUSEMENT INC. Faribault , MN The State Bank of Faribault
$150K-350K LIGHT HOUSE ELECTRIC Faribault , MN The State Bank of Faribault
$150K-350K LIVING GREENS FARM, INC. Faribault , MN The State Bank of Faribault
$150K-350K MATEJCEK IMPLEMENT COMPANY, INC. Faribault , MN The State Bank of Faribault
$150K-350K PRIOR LAKE LICENSE BUREAU, INC. Prior lake , MN The State Bank of Faribault
$150K-350K R C BLISS INC. Faribault , MN The State Bank of Faribault
$150K-350K RESTAN, LLC Prior lake , MN The State Bank of Faribault
$150K-350K REYLI INC. Lakeville , MN The State Bank of Faribault
$150K-350K SHELTER ARCHITECTURE, LLC Minneapolis , MN The State Bank of Faribault
$150K-350K STANLEY & WENCL LLC Savage , MN The State Bank of Faribault
$150K-350K STEINAIR, INC. Faribault , MN The State Bank of Faribault
$150K-350K TERESAS LLC Golden valley , MN The State Bank of Faribault
$150K-350K VAN HAREN CONSTRUCTION, INC. Faribault , MN The State Bank of Faribault
$350K-1M MERCURY MINNESOTA INC. Faribault , MN The State Bank of Faribault
$350K-1M CANNON RIVER STEM SCHOOL Faribault , MN The State Bank of Faribault
$350K-1M COMMUNITY CO-OP ASSOCIATION Faribault , MN The State Bank of Faribault
$350K-1M COMMUNITY CO-OP ASSOCIATION Faribault , MN The State Bank of Faribault
$350K-1M RISON HOMES INC. Faribault , MN The State Bank of Faribault
$350K-1M SOUTHERN MINNESOTA WOODCRAFT INC. Faribault , MN The State Bank of Faribault
$350K-1M BURNSVILLE HEATING & AIR CONDITIONING INC. Burnsville , MN The State Bank of Faribault
$350K-1M THE CATHOLIC CHURCH OF DIVINE MERCY OF FARIBAULT Faribault , MN The State Bank of Faribault
$350K-1M THE CATHOLIC CHURCH OF DIVINE MERCY OF FARIBAULT Faribault , MN The State Bank of Faribault

Frequently Asked Questions (FAQs)

A1: The CARES Act, officially known as the Coronavirus Aid, Relief, and Economic Security Act, is a federal law passed in March 2020 to provide economic relief to individuals, businesses, and healthcare providers affected by the COVID-19 pandemic.

The Paycheck Protection Program (PPP) is a part of the CARES Act designed to provide forgivable loans to small businesses to help cover payroll costs, rent, and other eligible expenses during the COVID-19 pandemic.

Small businesses, nonprofits, independent contractors, and self-employed individuals were generally eligible for PPP loans. Eligibility criteria and requirements may vary, so it's essential to check with the Small Business Administration (SBA) or your lender for specific details.

PPP loans were generally calculated based on a business's average monthly payroll costs. In most cases, businesses could receive up to 2.5 times their average monthly payroll costs, up to a maximum loan amount.

Yes, PPP loans are forgivable if the funds are used for eligible expenses like payroll, rent, and utilities. A certain percentage (usually 60% or more) of the loan must be used for payroll to qualify for full forgiveness

You can apply for a PPP loan through participating lenders, such as banks and credit unions. The SBA's website provides a list of lenders who participated in the program

Required documents typically include payroll records, tax forms, and other financial documents. Consult with your lender for specific documentation requirements

Deadlines for PPP loan applications have changed over time. It's essential to check the latest deadlines on the SBA's website or with your lender.

Yes, there is a second round of PPP loans (PPP2) available to eligible businesses. Requirements and eligibility criteria for PPP2 may differ from the first round.

You can request loan forgiveness through your lender by submitting the required documentation and forms. The forgiveness application process may vary based on the size and terms of your loan.