Getting an SBA Loan for Air and Gas Compressor Manufacturing

Looking for business loans for air and gas compressor manufacturing? An SBA loan may be just what you've been looking for. This $500,000 air and gas compressor manufacturing loan was issued by a Minnesota bank.

Getting a small business loan in Madison Lake, Minnesota was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Roundbank, operating out of Waseca, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: AIR AND GAS COMPRESSOR MANUFACTURING
MADISON LAKE, MN 56063

SBA Loan Lender

ROUNDBANK
200 2ND ST NE
WASECA, MN 56093

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

333912 - Air and Gas Compressor Manufacturing

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $250,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 44 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 44 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Roundbank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Waseca, Minnesota

Minnesota SBA 7A Lenders