Entrepreneur Works With Prinsburg, Minnesota Bank to Get an SBA Loan

A Prinsburg, Minnesota SBA loan can be yours. Learn how a business got a $250,000 business loan from this Minnesota bank.

This loan to an entrepreneur is a good example of an SBA loan. Prinsbank made the loan and the SBA guaranteed a portion of the loan. Many other New York entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL ERECTION
BELFAST, NY 14711

SBA Loan Lender

PRINSBANK
508 3RD ST
PRINSBURG, MN 56281

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

SIC Code

1791 - Structural Steel Erection

NAICS Code

235910 - Structural Steel Erection Contractors

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Belfast NY, you ought to talk with a local Belfast SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Belfast businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? 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.

Who Lends Money to Small Businesses in Prinsburg, Minnesota

Getting an SBA Loan in Minnesota

Prinsburg Bank Loan

Entrepreneur Works With Prinsburg, Minnesota Bank to Get an SBA Loan