Where to Get Capital for Ice Manufacturing

Looking for small business loans for ice manufacturing? The SBA may be the answer. This $1,224,000 ice manufacturing loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Horizon Bank, out of Pine City, Minnesota. The loan was granted and they received $1,224,000 to help grow their Pine City, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: ICE MANUFACTURING
PINE CITY, MN 55063

SBA Loan Lender

HORIZON BANK
600 HILLSIDE AVE SW
PINE CITY, MN 55063

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312113 - Ice Manufacturing

Loan Approval Date

9/28/2006

Loan Approval Gross Amount

$1,224,000

Loan Approval from the SBA

Of the total $1,224,000 loan amount, the SBA guaranteed $918,000.

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 loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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:

Small Business Loan

SBA 7A Banks for Pine City, Minnesota Loans

SBA Minnesota Lenders