Financing for Office Machinery and Equipment Rental and Leasing

Looking for loans for office machinery and equipment rental and leasing? An SBA loan may be just what you've been looking for. This $615,000 office machinery and equipment rental and leasing loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Grand Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was American Bank Of The North, based in Grand Rapids, Minnesota.

SBA Loan Borrower

COMPANY TYPE: OFFICE MACHINERY AND EQUIPMENT RENTAL AND LEASING
GRAND RAPIDS, MN 55744

SBA Loan Lender

AMERICAN BANK OF THE NORTH
1215 S POKEGAMA AVE
GRAND RAPIDS, MN 55744

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 bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532420 - Office Machinery and Equipment Rental and Leasing

Loan Approval Date

7/9/2003

Loan Approval Gross Amount

$615,000

Loan Approval from the SBA

Of the total $615,000 loan amount, the SBA guaranteed $461,250.

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 8 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

Strategic Investors

Small Business Banks in Grand Rapids, Minnesota

SBA Minnesota Lenders