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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Welding And Soldering Equipment Manufacturing Loan | ||||
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SBA Lenders for Minneapolis, Minnesota Businesses
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Getting an SBA Loan for Welding and Soldering Equipment ManufacturingWith these SBA loans for welding and soldering equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This welding and soldering equipment manufacturing loan for $150,000 was given to a Minnesota entrepreneur in 2001. Getting a small business loan in Minneapolis, Minnesota was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Associated Bank, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING SBA Loan Lender ASSOCIATED BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 333992 - Welding and Soldering Equipment Manufacturing Loan Approval Date 10/17/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Associated Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Where to Get an SBA Loan in Minneapolis, Minnesota
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