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December 30, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Elevator And Moving Stairway Manufacturing Loan | ||||
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SBA 7A Banks for Small Business Owners in Minnesota
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Minnesota Business Loan Issued to Elevator And Moving Stairway Manufacturing CompanySBA loans in Minnesota are hard to find these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA. You can learn something about getting a small business loan in Ellendale, Minnesota by studying this loan to a local business, made back in 2002. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: ELEVATOR AND MOVING STAIRWAY MANUFACTURING SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333921 - Elevator and Moving Stairway Manufacturing Loan Approval Date 7/30/2002 Loan Approval Gross Amount $226,500 Loan Approval from the SBA Of the total $226,500 loan amount, the SBA guaranteed $169,875. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $226,500 loan. Remember, anyone can do it... so why not you? 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: Small Bank Loans in Minneapolis, Minnesota
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