How to Get a Loan for Machine Shops

With these business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $525,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakeville, Minnesota was able to borrow $525,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $393,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
LAKEVILLE, MN 55044

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

8/11/2005

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like U.S. Bank National Association and they will explain how you can get an SBA loan for your company.

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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