North Branch, Minnesota Entrepreneur Gets a Bank Loan

Business loans in Minnesota are tough to come by these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

By giving the right information to Landmark Commun Bank, this North Branch, Minnesota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: METAL STAMPING
NORTH BRANCH, MN 55056

SBA Loan Lender

LANDMARK COMMUN BANK
29 W MAIN ST
ISANTI, MN 55040

The lender provided this bank 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

332116 - Metal Stamping

Loan Approval Date

4/19/2004

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. This loan was not for a franchise. At the time of the loan, the company had 47 employees. The SBA loan application for the borrower indicated that the loan would help retain 47 existing jobs.

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

If you need money to start business in North Branch MN, you ought to talk with a local North Branch SBA lender or talk with an out-of-area SBA lender that has previously loaned money to North Branch businesses.

This SBA loan was for $350,000. How would you spend $350,000 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.

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