Plumbing, Heating, and Air Conditioning Contractors Business Loans

With these business loans for plumbing, heating, and air conditioning contractors, the SBA guarantees the lender that the loan will be repaid. This plumbing, heating, and air conditioning contractors loan for $415,000 was given to a Minnesota entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Mainstreet Bank, out of Minneapolis, Minnesota. The loan was granted and they received $415,000 to help grow their Hopkins, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
HOPKINS, MN 55343

SBA Loan Lender

MAINSTREET BANK
2120 HENNEPIN AVE SOUTH
MINNEAPOLIS, MN 55405

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

11/18/2002

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient 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?

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mainstreet Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mainstreet Bank 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.

Related Links:

Direct Public Offerings

SBA 7A Banks in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota