How to Get a Loan for Plastics Product Manufacturing

With these business loans for plastics product manufacturing, the SBA guarantees the lender that the loan will be repaid. This plastics product manufacturing loan for $100,000 was given to a Minnesota entrepreneur in 2006.

This small business 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 2006. The lending bank was American Bank Of The North, based in Nashwauk, Minnesota.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING
GRAND RAPIDS, MN 55744

SBA Loan Lender

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

This lender processed this small business 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

326199 - Plastics Product Manufacturing

Loan Approval Date

5/5/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Attracting Investors

SBA Banks in Nashwauk, Minnesota

Getting a Business Loan in Minnesota