SBA Loan from Heritage Bank Helps Unsupported Plastics Profile Shapes Manufacturing Company

An SBA loan from Heritage Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Paynesville, Minnesota business owner got a $150,000 loan.

Getting a small business loan in Paynesville, Minnesota was an essential business goal for this small business 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 bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

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

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Heritage Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Participating Banks in Spicer, Minnesota

Where to Get an SBA Loan Minnesota