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November 24, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Machine Tool Manufacturing Loan | ||||
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Associated Bank Business Loans
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Machine Tool Manufacturing Commercial LoansLooking for commercial loans for machine tool manufacturing? Talk to a banker who works with the SBA. This $17,900 machine tool manufacturing loan was issued by a Minnesota bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Associated Bank, out of Minneapolis, Minnesota. The loan was granted and they received $17,900 to help grow their Red Wing, Minnesota business. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL MANUFACTURING SBA Loan Lender ASSOCIATED BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 6/2/2005 Loan Approval Gross Amount $17,900 Loan Approval from the SBA Of the total $17,900 loan amount, the SBA guaranteed $8,950. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Best Banks for Small Business in Minneapolis, Minnesota Browse All Business Loan Sources for Minnesota
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