First Farmers & Merchants Natl Gives Bank Loan to Hand And Edge Tool Manufacturing Company

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

This small business, based in Burnsville, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Farmers & Merchants Natl. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HAND AND EDGE TOOL MANUFACTURING
BURNSVILLE, MN 55306

SBA Loan Lender

FIRST FARMERS & MERCHANTS NATL
112 S MAIN ST
LE SUEUR, MN 56058

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

1/25/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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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