Industrial Mold Manufacturing SBA Loans

With these SBA loans for industrial mold manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial mold manufacturing loan for $135,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $135,000 from Drake Bank. The SBA made the loan possible by guaranteeing $114,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
MINNEAPOLIS, MN 55406

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333511 - Industrial Mold Manufacturing

Loan Approval Date

8/11/2005

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 15 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

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. Drake Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Drake 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.

Related Links:

Business Cash Advances

SBA 7A Lenders in Saint Paul, Minnesota

Minnesota SBA Banks