Borrowing Money for Framing Contractors

With these bank loans for framing contractors, the SBA guarantees the lender that the loan will be repaid. This framing contractors loan for $350,000 was given to a Minnesota entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Beacon Bank, out of Shorewood, Minnesota. The loan was granted and they received $350,000 to help grow their Minneapolis, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FRAMING CONTRACTORS
MINNEAPOLIS, MN 55405

SBA Loan Lender

BEACON BANK
19765 HWY 7
SHOREWOOD, MN 55331

This bank 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

238130 - Framing Contractors

Loan Approval Date

7/8/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 39 employees. The loan application indicated that the loan would help retain 39 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Beacon Bank and they will explain how you can get an SBA loan for your company.

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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