Borrowing Money for Aircraft Manufacturing

Looking for loans for aircraft manufacturing? Try the SBA. This $30,000 aircraft manufacturing loan was issued by a Minnesota bank.

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

SBA Loan Borrower

COMPANY TYPE: AIRCRAFT MANUFACTURING
LONG LAKE, MN 55356

SBA Loan Lender

LAKE ELMO BANK
11465 39TH ST NORTH
LAKE ELMO, MN 55042

This debt financing 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

336411 - Aircraft Manufacturing

Loan Approval Date

4/14/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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

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