Financing for Commercial and Industrial Machinery and Equipment Rental and Leasing

Looking for commercial loans for commercial and industrial machinery and equipment rental and leasing? An SBA loan may be just what you've been looking for. This $360,000 commercial and industrial machinery and equipment rental and leasing loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Eagan, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Lakeview Bank, based in Lakeville, Minnesota.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING
EAGAN, MN 55121

SBA Loan Lender

LAKEVIEW BANK
9725 163RD ST WEST
LAKEVILLE, MN 55044

This lender issued this SBA business loan under the 7A SBA 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

532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Accountant's Role in Securing Financing

Banks in Lakeville, Minnesota

SBA Lenders in Minnesota