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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Shakopee, Business Loans > Wells Fargo Bank Shakopee Business Loans > Service Industry Machinery Loan | ||||
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Raising Money in Chaska, Minnesota With SBA Loans
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Minnesota Small Business Loan Issued to Service Industry Machinery CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Wells Fargo Bank, this Chaska, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SERVICE INDUSTRY MACHINERY SBA Loan Lender WELLS FARGO BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3589 - Service Industry Machinery NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 6/27/2001 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $900,000. 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 29 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Find an SBA Lender in Shakopee, Minnesota
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