Getting an SBA Loan for Measuring and Controlling Device Manufacturing

Looking for SBA loans for measuring and controlling device manufacturing? Try the SBA. This $45,000 measuring and controlling device manufacturing loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citizens Bank & Trust, out of Hutchinson, Minnesota. The loan was granted and they received $45,000 to help grow their Stewart, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
STEWART, MN 55385

SBA Loan Lender

CITIZENS BANK & TRUST
102 MAIN ST SOUTH
HUTCHINSON, MN 55350

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8734 - Testing Laboratories

NAICS Code

334519 - Measuring and Controlling Device Manufacturing

Loan Approval Date

2/27/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Hutchinson, Minnesota

Minnesota SBA Bank Lenders