Borrowing Money for Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

With these loans for overhead traveling crane, hoist, and monorail system manufacturing, the SBA guarantees the lender that the loan will be repaid. This overhead traveling crane, hoist, and monorail system manufacturing loan for $510,000 was given to a Minnesota entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Deerwood, Minnesota was able to borrow $510,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $382,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: OVERHEAD TRAVELING CRANE, HOIST, AND MONORAIL SYSTEM MANUFACTURING
Deerwood, MN 56444

SBA Loan Lender

BREMER BANK
1100 W ST. GERMAIN ST
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333923 - Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

Loan Approval Date

4/24/2007

Loan Approval Gross Amount

$510,000

Loan Approval from the SBA

Of the total $510,000 loan amount, the SBA guaranteed $382,500.

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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Bremer Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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