Getting an SBA Loan for Industrial Valve Manufacturing

With these business loans for industrial valve manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial valve manufacturing loan for $350,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Faribault, Minnesota was able to borrow $350,000 from The State Bank Of Faribault. The SBA made the loan possible by guaranteeing $175,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL VALVE MANUFACTURING
FARIBAULT, MN 55021

SBA Loan Lender

THE STATE BANK OF FARIBAULT
428 CENTRAL AVE
FARIBAULT, MN 55021

The lender provided this debt financing 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

332911 - Industrial Valve Manufacturing

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 54 employees. The SBA loan documents indicated that the loan would help generate 11 new jobs and retain 54 existing jobs.

Next Steps for Getting an SBA Loan

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

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 $350,000 loan. Remember, fight for what you want, and it will be yours!

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:

Borrowing Money from Friends and Family

Small Bank Loans in Faribault, Minnesota

Minnesota SBA Banks