Commercial Loans for Machine Shops

Looking for commercial loans for machine shops? Talk to a banker who works with the SBA. This $105,600 machine shops loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Searles, Minnesota was able to borrow $105,600 from Frandsen Bank & Trust. The SBA made the loan possible by guaranteeing $89,760 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SEARLES, MN 56073

SBA Loan Lender

FRANDSEN BANK & TRUST
116 W CENTRAL ST
LONSDALE, MN 55046

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$105,600

Loan Approval from the SBA

Of the total $105,600 loan amount, the SBA guaranteed $89,760.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 $105,600 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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Lonsdale, Minnesota

Minnesota SBA 7A Lenders