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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Melrose, Business Loans > Central Minnesota Fcu Melrose Business Loans > Wood Product Manufacturing Loan | ||||
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Minnesota Small Business Funding
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Raising Money for Wood Product ManufacturingWith these business loans for wood product manufacturing, the SBA guarantees the lender that the loan will be repaid. This wood product manufacturing loan for $338,000 was given to a Minnesota entrepreneur in 2008. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brooten, Minnesota was able to borrow $338,000 from Central Minnesota Fcu. The SBA made the loan possible by guaranteeing $253,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCT MANUFACTURING SBA Loan Lender CENTRAL MINNESOTA FCU This bank 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 321999 - Wood Product Manufacturing Loan Approval Date 1/9/2008 Loan Approval Gross Amount $338,000 Loan Approval from the SBA Of the total $338,000 loan amount, the SBA guaranteed $253,500. 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 11 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Banking Deregulation's Effects on Entrepreneurship Good Banks for Small Business in Melrose, Minnesota
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