Barnesville, Minnesota Lender Lends Money to Fabricated Metal Product Manufacturing Company

Want to talk with a Barnesville, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Barnesville bank, that was approved by the SBA.

Applying for an SBA loan with Midwest Bank worked out well for our friends at one local company in Pequot Lakes, Minnesota. They got an SBA loan for $208,850. Nice!

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
PEQUOT LAKES, MN 56472

SBA Loan Lender

MIDWEST BANK
215 FRONT ST SOUTH
BARNESVILLE, MN 56514

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

3/17/2006

Loan Approval Gross Amount

$208,850

Loan Approval from the SBA

Of the total $208,850 loan amount, the SBA guaranteed $156,638.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Pequot Lakes or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

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Getting a Business Loan in Minnesota