SBA Loans for Ice Manufacturing

With these SBA loans for ice manufacturing, the SBA guarantees the lender that the loan will be repaid. This ice manufacturing loan for $80,000 was given to a Minnesota entrepreneur in 2001.

Getting a small business loan in Park Rapids, Minnesota was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Cit. National Bank - Pk Rapids, operating out of Park Rapids, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURED ICE
PARK RAPIDS, MN 56470

SBA Loan Lender

CIT. NATIONAL BANK - PK RAPIDS
300 W 1ST ST
PARK RAPIDS, MN 56470

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2097 - Manufactured Ice

NAICS Code

312113 - Ice Manufacturing

Loan Approval Date

6/20/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 2 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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.

Related Links:

Obtaining Funding - How to Borrow Money

Where to Get an SBA Loan in Park Rapids, Minnesota

Getting an SBA Loan in Minnesota