Rosemount, Minnesota Business Gets SBA-Guaranteed Funding from Lakeview Bank

An SBA loan from Lakeview Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rosemount, Minnesota business owner got a $1,550,000 loan.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Lakeview Bank, out of Lakeville, Minnesota. The loan was granted and they received $1,550,000 to help grow their Rosemount, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
ROSEMOUNT, MN 55068

SBA Loan Lender

LAKEVIEW BANK
9725 163RD ST WEST
LAKEVILLE, MN 55044

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/3/2006

Loan Approval Gross Amount

$1,550,000

Loan Approval from the SBA

Of the total $1,550,000 loan amount, the SBA guaranteed $1,162,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $1,550,000. How would you spend $1,550,000 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.

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