Owatonna, Minnesota Bank Lends Money to Plastics Material And Resin Manufacturing Company in Blooming Prairie, Minnesota

Want to talk with an Owatonna, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by an Owatonna bank, that was approved by the SBA.

Applying for an SBA loan with United Prairie Bank worked out well for our friends at one local firm in Blooming Prairie, Minnesota. They received an SBA loan for $305,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIAL AND RESIN MANUFACTURING
BLOOMING PRAIRIE, MN 55917

SBA Loan Lender

UNITED PRAIRIE BANK
1801 SOUTH CEDAR
OWATONNA, MN 55060

This SBA business loan 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

325211 - Plastics Material and Resin Manufacturing

Loan Approval Date

2/27/2003

Loan Approval Gross Amount

$305,000

Loan Approval from the SBA

Of the total $305,000 loan amount, the SBA guaranteed $228,750.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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