Borrowing Money for Iron and Steel Forging

Looking for bank loans for iron and steel forging? Try the SBA. This $50,000 iron and steel forging loan was issued by a Minnesota bank.

Getting a small business loan in Hutchinson, Minnesota was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank & Trust, operating out of Hutchinson, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: IRON AND STEEL FORGING
HUTCHINSON, MN 55350

SBA Loan Lender

CITIZENS BANK & TRUST
102 MAIN ST SOUTH
HUTCHINSON, MN 55350

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

332111 - Iron and Steel Forging

Loan Approval Date

7/5/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, where there is a will, there is a way!

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 Banks in Hutchinson, Minnesota

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