Loans for Machine Shops

With these loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $350,000 was given to a Minnesota entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Peoples Bank Of Commerce, out of Cambridge, Minnesota. The loan was granted and they received $350,000 to help grow their Bloomington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
BLOOMINGTON, MN 55431

SBA Loan Lender

PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

6/29/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 40 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? 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.

Related Links:

Bank Credit Lines

Good Banks for Small Business in Cambridge, Minnesota

Minnesota SBA 7A Lenders