State Bank Of Lucan Gives SBA Loan to Manufacturing Company

Would a Minnesota SBA loan help your business get to the next level? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in Lucan, Minnesota was a top priority for this particular business back in 2007 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
LUCAN, MN 56255

SBA Loan Lender

STATE BANK OF LUCAN
106 MAIN ST
LUCAN, MN 56255

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

339999 - Manufacturing

Loan Approval Date

2/23/2007

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 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 17 employees. The loan application indicated that the loan would help generate 1 new job and retain 17 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $85,000 loan. Remember, where there is a will, there is a way!

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:

Bank Credit Lines

Small Business Banks in Lucan, Minnesota

Minnesota SBA 7A Lenders