Shorewood, Minnesota Bank Lends Money to Sign Manufacturing Company in Duluth, Minnesota

Get to know Shorewood, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Beacon Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Duluth, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Beacon Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SIGN MANUFACTURING
DULUTH, MN 55802

SBA Loan Lender

BEACON BANK
19765 HWY 7
SHOREWOOD, MN 55331

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

339950 - Sign Manufacturing

Loan Approval Date

11/8/2006

Loan Approval Gross Amount

$59,100

Loan Approval from the SBA

Of the total $59,100 loan amount, the SBA guaranteed $29,550.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Beacon Bank 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:

Business Credit Evaluation

Where to Get an SBA Loan in Shorewood, Minnesota

Minnesota SBA Banks