Minnesota Bank Loan Issued to Ophthalmic Goods Manufacturing Company

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in Grand Rapids, Minnesota was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of The North. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: OPHTHALMIC GOODS MANUFACTURING
GRAND RAPIDS, MN 55744

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339115 - Ophthalmic Goods Manufacturing

Loan Approval Date

1/4/2007

Loan Approval Gross Amount

$36,600

Loan Approval from the SBA

Of the total $36,600 loan amount, the SBA guaranteed $27,450.

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 17 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 19 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Grand Rapids MN, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of The North so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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