Raising Money for Conveyor and Conveying Equipment Manufacturing

Looking for business loans for conveyor and conveying equipment manufacturing? The SBA may be the answer. This $654,400 conveyor and conveying equipment manufacturing loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with State Bank Of Hawley, out of Hawley, Minnesota. The loan was granted and they received $654,400 to help grow their Hawley, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: CONVEYOR AND CONVEYING EQUIPMENT MANUFACTURING
HAWLEY, MN 56549

SBA Loan Lender

STATE BANK OF HAWLEY
416 6TH ST
HAWLEY, MN 56549

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333922 - Conveyor and Conveying Equipment Manufacturing

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$654,400

Loan Approval from the SBA

Of the total $654,400 loan amount, the SBA guaranteed $588,960.

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 53 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Bank Of Hawley had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank Of Hawley made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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SBA 7A Banks in Hawley, Minnesota

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