Minnesota Bank Loan Issued to Industrial Machinery Manufacturing Company

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

You can learn something about getting a small business loan in Coon Rapids, Minnesota by studying this loan to a local business, made back in 2005. Banks like Prosperan Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING
COON RAPIDS, MN 55433

SBA Loan Lender

PROSPERAN BANK
990 HELENA AVE NORTH
OAKDALE, MN 55128

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333298 - Industrial Machinery Manufacturing

Loan Approval Date

3/18/2005

Loan Approval Gross Amount

$256,000

Loan Approval from the SBA

Of the total $256,000 loan amount, the SBA guaranteed $192,000.

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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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