Bank Loans for Machine Tool Manufacturing

Looking for bank loans for machine tool manufacturing? The SBA may be the answer. This $228,600 machine tool manufacturing loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Staples, Minnesota was able to borrow $228,600 from First Integrity Bank. The SBA made the loan possible by guaranteeing $114,300 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
STAPLES, MN 56479

SBA Loan Lender

FIRST INTEGRITY BANK
111 4TH ST NE
STAPLES, MN 56479

This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

9/8/2003

Loan Approval Gross Amount

$228,600

Loan Approval from the SBA

Of the total $228,600 loan amount, the SBA guaranteed $114,300.

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 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $228,600. How would you spend $228,600 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.

Related Links:

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Minnesota SBA Banks