Getting an SBA Loan for Fabricated Structural Metal Manufacturing

Looking for SBA loans for fabricated structural metal manufacturing? The SBA may be the answer. This $100,100 fabricated structural metal manufacturing loan was issued by a Minnesota bank.

Getting a small business loan in Le Sueur, Minnesota was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Farmers & Merchants Natl, operating out of Le Sueur, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING
LE SUEUR, MN 56058

SBA Loan Lender

FIRST FARMERS & MERCHANTS NATL
112 S MAIN ST
LE SUEUR, MN 56058

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$100,100

Loan Approval from the SBA

Of the total $100,100 loan amount, the SBA guaranteed $50,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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