Duluth, Minnesota Business Gets SBA-Guaranteed Funding from National Bank Of Commerce

National Bank Of Commerce has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Duluth, Minnesota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was National Bank Of Commerce, based in Superior, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: PREFABRICATED METAL BUILDINGS AND COMPONENTS
DULUTH, MN 55811

SBA Loan Lender

NATIONAL BANK OF COMMERCE
1127 TOWER AVE
SUPERIOR, WI 54880

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3448 - Prefabricated Metal Buildings and Components

NAICS Code

332311 - Prefabricated Metal Building and Component Manufacturing

Loan Approval Date

8/29/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $28,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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