How to Get a Loan for Metal Service Centers and Offices

Looking for commercial loans for metal service centers and offices? Try the SBA. This $300,000 metal service centers and offices loan was issued by a Wisconsin bank.

Getting a small business loan in Duluth, Minnesota was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National Bank Of Commerce, operating out of Superior, Wisconsin. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL SERVICE CENTERS AND OFFICES
DULUTH, MN 55808

SBA Loan Lender

NATIONAL BANK OF COMMERCE
1127 TOWER AVE
SUPERIOR, WI 54880

This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421510 - Metal Service Centers and Offices

Loan Approval Date

5/15/2002

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $270,000.

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 8 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Bank Of Commerce had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Bank Of Commerce made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Find an SBA Lender in Wisconsin