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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eagan, Business Loans > Associated Bank Eagan Business Loans > Machine Tool Manufacturing Loan | ||||
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Associated Bank
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Associated Bank SBA Loan to Machine Tool Manufacturing CompanyAssociated Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Associated Bank, out of Eagan, Minnesota. The loan was granted and they received $430,000 to help grow their Red Wing, Minnesota business. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL MANUFACTURING SBA Loan Lender ASSOCIATED BANK This lender issued this SBA loan under the 7A SBA program, 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 333512 - Machine Tool Manufacturing Loan Approval Date 3/25/2003 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 31 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $430,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks in Eagan, Minnesota Find an SBA Lender in Minnesota
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