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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cambridge, Business Loans > Cambridge State Bank Cambridge Business Loans > Ornamental And Architectural Metal Work Manufacturing Loan | ||||
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Minnesota SBA Lenders
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Entrepreneur Works With Cambridge, Minnesota Bank to Get an SBA LoanWant to talk with a Cambridge, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Cambridge bank, that was approved by the SBA. Applying for an SBA loan with Cambridge State Bank worked out well for our friends at one local firm in Cambridge, Minnesota. The business was able to get an SBA loan for $250,000. Nice! SBA Loan Borrower COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING SBA Loan Lender CAMBRIDGE STATE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 332323 - Ornamental and Architectural Metal Work Manufacturing Loan Approval Date 5/12/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 4 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to borrow money from friends and family, 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Cambridge, Minnesota
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