Packing and Crating Commercial Loans

Looking for commercial loans for packing and crating? The SBA may be the answer. This $25,000 packing and crating loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Vadnais Heights, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Drake Bank, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: PACKING AND CRATING
VADNAIS HEIGHTS, MN 55110

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

488991 - Packing and Crating

Loan Approval Date

1/13/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 7 existing jobs.

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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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