Saint Cloud, Minnesota Bank Lends Money to Cutlery And Flatware Manufacturing Company in Holdingford, Minnesota

Thinking about meeting with a Saint Cloud, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Cloud bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local business in Holdingford, Minnesota. They got an SBA loan for $454,000. Great job!

SBA Loan Borrower

COMPANY TYPE: CUTLERY AND FLATWARE MANUFACTURING
HOLDINGFORD, MN 56340

SBA Loan Lender

BREMER BANK
1100 W ST. GERMAIN ST
SAINT CLOUD, MN 56301

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332211 - Cutlery and Flatware Manufacturing

Loan Approval Date

7/27/2001

Loan Approval Gross Amount

$454,000

Loan Approval from the SBA

Of the total $454,000 loan amount, the SBA guaranteed $340,500.

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 5 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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