Office Machinery and Equipment Rental and Leasing Business Loans

With these business loans for office machinery and equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This office machinery and equipment rental and leasing loan for $50,000 was given to a Minnesota entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Jordan, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Drake Bank, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: OFFICE MACHINERY AND EQUIPMENT RENTAL AND LEASING
JORDAN, MN 55352

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532420 - Office Machinery and Equipment Rental and Leasing

Loan Approval Date

8/3/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Small Business Loan

SBA 7A Banks in Saint Paul, Minnesota

SBA Minnesota Lenders