Bank Loans for Men's Footwear Manufacturing

Looking for bank loans for men's footwear manufacturing? Talk to a banker who works with the SBA. This $20,000 men's footwear manufacturing loan was issued by a Minnesota bank.

Getting a small business loan in Chisago City, Minnesota was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Riverbank, operating out of Wyoming, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S FOOTWEAR MANUFACTURING
CHISAGO CITY, MN 55013

SBA Loan Lender

THE RIVERBANK
26777 FALLBROOK AVE
WYOMING, MN 55092

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

316213 - Men's Footwear Manufacturing

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help create 1 new job.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Riverbank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Wyoming, Minnesota

Minnesota SBA 7A Banks