SBA Loan from Venture Bank Helps Metal Container Manufacturing Company

An SBA loan from Venture Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spring Lake Park, Minnesota business owner got a $100,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Spring Lake Park, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Venture Bank, based in Golden Valley, Minnesota.

SBA Loan Borrower

COMPANY TYPE: METAL CONTAINER MANUFACTURING
SPRING LAKE PARK, MN 55432

SBA Loan Lender

VENTURE BANK
5500 WAYZATA BLVD, STE 140
GOLDEN VALLEY, MN 55416

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332439 - Metal Container Manufacturing

Loan Approval Date

10/17/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Venture Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Equity Financing

SBA Banks in Golden Valley, Minnesota

Getting an SBA Loan in Minnesota