Grand Rapids, Minnesota Entrepreneur Gets a Bank Loan

MinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan.

You can learn something about getting a small business loan in Grand Rapids, Minnesota by studying this loan to a local company, made back in 2004. Banks like American Bank Of The North may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
GRAND RAPIDS, MN 65744

SBA Loan Lender

AMERICAN BANK OF THE NORTH
117 CENTRAL AVE
NASHWAUK, MN 55769

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $205,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

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

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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