Get an SBA Loan for Synthetic Rubber Manufacturing

With these small business loans for synthetic rubber manufacturing, the SBA guarantees the lender that the loan will be repaid. This synthetic rubber manufacturing loan for $1,000,000 was given to a Minnesota entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Hibbing, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Northern St. Bank - Virginia, based in Virginia, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SYNTHETIC RUBBER MANUFACTURING
HIBBING, MN 55746

SBA Loan Lender

NORTHERN ST. BANK - VIRGINIA
600 CHESTNUT ST
VIRGINIA, MN 55792

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325212 - Synthetic Rubber Manufacturing

Loan Approval Date

7/31/2001

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 125 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,000,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Financing Your Business

SBA 7A Banks for Virginia, Minnesota Loans

Where to Get an SBA Loan Minnesota