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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Marion, Business Loans > Midcountry Bank Marion Business Loans > Optical Instrument And Lens Manufacturing Loan | ||||
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Richmond, Minnesota Bank for SBA Loans
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Small Business Loans for Optical Instrument and Lens ManufacturingLooking for small business loans for optical instrument and lens manufacturing? Talk to a banker who works with the SBA. This $225,000 optical instrument and lens manufacturing loan was issued by an Illinois bank. This company knew how to go about getting a business bank loan. Based in Richmond, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Midcountry Bank, based in Marion, Illinois. SBA Loan Borrower COMPANY TYPE: OPTICAL INSTRUMENT AND LENS MANUFACTURING SBA Loan Lender MIDCOUNTRY BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333314 - Optical Instrument and Lens Manufacturing Loan Approval Date 11/18/2003 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $225,000. How would you spend $225,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Marion, Illinois Banks for Small Business
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