How to Get a Loan for Fabricated Metal Product Manufacturing

Looking for SBA loans for fabricated metal product manufacturing? An SBA loan may be just what you've been looking for. This $1,630,100 fabricated metal product 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 Stearns Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $1,630,100 to help grow their Sauk Centre, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
SAUK CENTRE, MN 56378

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$1,630,100

Loan Approval from the SBA

Of the total $1,630,100 loan amount, the SBA guaranteed $1,222,575.

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 23 employees. The loan application indicated that the loan would help generate 1 new job and retain 22 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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Find an SBA Lender in Saint Cloud, Minnesota

SBA Minnesota Lenders