Small Business Loans for Machine Shops

With these small business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $100,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anoka, Minnesota was able to borrow $100,000 from Kleinbank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ANOKA, MN 55303

SBA Loan Lender

KLEINBANK
800 FAXON RD
NORWOOD YOUNG AMERICA, MN 55368

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

332710 - Machine Shops

Loan Approval Date

3/29/2005

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. This loan was not for a franchise. At the time of the loan, the company had 35 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Anoka MN, you ought to talk with a local Anoka SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anoka businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, where there is a will, there is a way!

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:

Business Incubators

Where to Get an SBA Loan in Norwood Young America, Minnesota

Getting an SBA Loan in Minnesota