Borrowing Money for Unsupported Plastics Profile Shapes Manufacturing

With these bank loans for unsupported plastics profile shapes manufacturing, the SBA guarantees the lender that the loan will be repaid. This unsupported plastics profile shapes manufacturing loan for $200,000 was given to a Minnesota entrepreneur in 2001.

Getting a small business loan in Paynesville, Minnesota was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank, operating out of Spicer, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: UNSUPPORTED PLASTICS PROFILE SHAPES MANUFACTURING
PAYNESVILLE, MN 56362

SBA Loan Lender

HERITAGE BANK
110 SOUTH ST WEST
SPICER, MN 56288

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326121 - Unsupported Plastics Profile Shapes Manufacturing

Loan Approval Date

1/18/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 7 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Credit Evaluation

SBA 7A Banks for Spicer, Minnesota Loans

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