New London, Minnesota Lender Lends Money to Engine Equipment Manufacturing Company

Get business loans from a New London, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Lake Region Bank is a New London, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: ENGINE EQUIPMENT MANUFACTURING
NEW LONDON, MN 56273

SBA Loan Lender

LAKE REGION BANK
51 MAIN ST
NEW LONDON, MN 56273

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

333618 - Engine Equipment Manufacturing

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$62,400

Loan Approval from the SBA

Of the total $62,400 loan amount, the SBA guaranteed $31,200.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new 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.

This SBA loan was for $62,400. How would you spend $62,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in New London, Minnesota

Getting an SBA Loan in Minnesota