SBA Loan from Northwestern Bank Helps Industrial Process Furnace And Oven Manufacturing Company

Northwestern Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Northwestern Bank, out of Moorhead, Minnesota. The loan was granted and they received $127,000 to help grow their Moorhead, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL PROCESS FURNACE AND OVEN MANUFACTURING
MOORHEAD, MN 56560

SBA Loan Lender

NORTHWESTERN BANK
2405 S 8TH ST
MOORHEAD, MN 56564

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333994 - Industrial Process Furnace and Oven Manufacturing

Loan Approval Date

6/7/2006

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $107,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $127,000 loan. Remember, you control your own destiny.

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:

Small Business Loan

Best Moorhead, Minnesota Banks for Small Business

Getting a Business Loan in Minnesota