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December 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Machine Shops Loan | ||||
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Park Midway Bank Business Loans Circle Pines, MN
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SBA Loan from Park Midway Bank Helps Machine Shops CompanyPark Midway Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This small firm knew how to go about getting a business bank loan. Based in Circle Pines, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Park Midway Bank, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender PARK MIDWAY BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 10/4/2007 Loan Approval Gross Amount $405,000 Loan Approval from the SBA Of the total $405,000 loan amount, the SBA guaranteed $303,750. 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 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Circle Pines MN, you ought to talk with a local Circle Pines SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Circle Pines businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Park Midway Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists SBA Banks in Saint Paul, Minnesota SBA Participating Banks in Minnesota
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