Eden Prairie, Minnesota Lender Lends Money to Machine Shops Company

Thinking about meeting with an Eden Prairie, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Eden Prairie bank, that was approved by the SBA.

Applying for an SBA loan with Voyager Bank worked out well for our friends at one local company in Fridley, Minnesota. They received an SBA loan for $1,310,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
FRIDLEY, MN 55432

SBA Loan Lender

VOYAGER BANK
775 PRAIRIE CENTER DR
EDEN PRAIRIE, MN 55344

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

1/5/2004

Loan Approval Gross Amount

$1,310,000

Loan Approval from the SBA

Of the total $1,310,000 loan amount, the SBA guaranteed $974,994.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

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