How to Get a Loan for Transportation Equipment Manufacturing

Looking for business loans for transportation equipment manufacturing? The SBA may be the answer. This $100,000 transportation equipment manufacturing loan was issued by a Minnesota bank.

Getting a small business loan in Wadena, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wadena State Bank, operating out of Wadena, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT MANUFACTURING
WADENA, MN 56482

SBA Loan Lender

WADENA STATE BANK
304 1ST ST SE
WADENA, MN 56482

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

336999 - Transportation Equipment Manufacturing

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The loan application indicated that the borrowed money would help generate 3 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wadena State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wadena State 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:

Find Start-Up Capital

SBA 7A Banks for Wadena, Minnesota Loans

Getting an SBA Loan in Minnesota