State Bank Of Lucan Gives Small Business Loan to Manufacturing Industries Company

MinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a Minnesota bank provides the loan.

Getting a small business loan in Lucan, Minnesota was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Lucan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
LUCAN, MN 56225

SBA Loan Lender

STATE BANK OF LUCAN
106 MAIN ST
LUCAN, MN 56255

This lender issued this particular SBA business loan 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.

SIC Code

3999 - Manufacturing Industries

NAICS Code

339999 - Manufacturing

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 16 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding From a Venture Capitalist

Small Bank Loans in Lucan, Minnesota

Minnesota SBA Banks