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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Nashwauk, Business Loans > American Bank Of The North Nashwauk Business Loans > Unsupported Plastics Profile Shapes Manufacturing Loan | ||||
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American Bank Of The North Small Business Loan
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Bank Loans for Unsupported Plastics Profile Shapes ManufacturingLooking for bank loans for unsupported plastics profile shapes manufacturing? The SBA may be the answer. This $255,800 unsupported plastics profile shapes manufacturing loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with American Bank Of The North, out of Nashwauk, Minnesota. The loan was granted and they received $255,800 to help grow their Grand Rapids, Minnesota business. SBA Loan Borrower COMPANY TYPE: UNSUPPORTED PLASTICS PROFILE SHAPES MANUFACTURING SBA Loan Lender AMERICAN BANK OF THE NORTH This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 326121 - Unsupported Plastics Profile Shapes Manufacturing Loan Approval Date 7/20/2006 Loan Approval Gross Amount $255,800 Loan Approval from the SBA Of the total $255,800 loan amount, the SBA guaranteed $191,850. 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 25 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 25 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American Bank Of The North and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: A Company That Helps Entrepreneurs Small Bank Loans in Nashwauk, Minnesota
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