Lake Elmo, Minnesota Lender Lends Money to Motor Vehicle Body Manufacturing Company

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

Lake Elmo Bank is a Lake Elmo, 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: MOTOR VEHICLE BODY MANUFACTURING
NORTH ST. PAUL, MN 55109

SBA Loan Lender

LAKE ELMO BANK
11465 39TH ST NORTH
LAKE ELMO, MN 55042

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

336211 - Motor Vehicle Body Manufacturing

Loan Approval Date

3/9/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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