Owatonna, Minnesota Lender Lends Money to Plastics Product Manufacturing Company

Get to know Owatonna, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. United Prairie Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Blooming Prairie, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from United Prairie Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
BLOOMING PRAIRIE, MN 55917

SBA Loan Lender

UNITED PRAIRIE BANK
110 W ROSE ST
OWATONNA, MN 55060

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

326199 - Plastics Product Manufacturing

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 6 employees. The loan application indicated that the loan would help generate 11 new jobs and retain 17 existing jobs.

Next Steps for Getting an SBA Loan

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 firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

Best Banks for Small Business in Owatonna, Minnesota

Getting an SBA Loan in Minnesota