Minnesota Small Business Loan Issued to Hand And Edge Tool Manufacturing Company

Looking to get a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in Burnsville, Minnesota was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Farmers & Merchants Natl. Here are the details 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
123 S 4TH ST
CANNON FALLS, MN 55009

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

1/26/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Burnsville MN, you ought to talk with a local Burnsville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burnsville businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? 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:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Cannon Falls, Minnesota

Getting an SBA Loan in Minnesota