How to Get a Loan for Packaging Machinery Manufacturing

Looking for SBA loans for packaging machinery manufacturing? Try the SBA. This $94,500 packaging machinery manufacturing loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spring Park, Minnesota was able to borrow $94,500 from Associated Bank. The SBA made the loan possible by guaranteeing $85,050 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PACKAGING MACHINERY
SPRING PARK, MN 55384

SBA Loan Lender

ASSOCIATED BANK
5353 WAYZATA BLVD
SAINT LOUIS PARK, MN 55416

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3565 - Packaging Machinery

NAICS Code

333993 - Packaging Machinery Manufacturing

Loan Approval Date

6/16/2000

Loan Approval Gross Amount

$94,500

Loan Approval from the SBA

Of the total $94,500 loan amount, the SBA guaranteed $85,050.

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 13 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Associated Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Associated Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Incubators

Small Bank Loans in Saint Louis Park, Minnesota

Getting an SBA Loan in Minnesota