Commercial Loans for Framing Contractors

With these commercial loans for framing contractors, the SBA guarantees the lender that the loan will be repaid. This framing contractors loan for $160,000 was given to a Minnesota entrepreneur in 2007.

Getting a small business loan in Hugo, Minnesota was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Community National Bank, operating out of North Branch, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FRAMING CONTRACTORS
HUGO, MN 55038

SBA Loan Lender

COMMUNITY NATIONAL BANK
5481 ST. CROIX TRL
NORTH BRANCH, MN 55056

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238130 - Framing Contractors

Loan Approval Date

4/11/2007

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 20 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Hugo MN, you ought to talk with a local Hugo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hugo businesses.

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

Startup Funding Tip

SBA 7A Banks for North Branch, Minnesota Loans

Minnesota SBA 7A Lenders