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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > South Saint Paul, Business Loans > Bremer Bank South Saint Paul Business Loans > Rubber And Plastics Hoses And Belting Manufacturing Loan | ||||
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SBA Lenders That Lend to Watertown Small Business Owners
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Company Gets a Minnesota SBA LoanSBA loans in Minnesota are tough to come by these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA. You can learn something about getting a small business loan in Watertown, Minnesota by studying this loan to a local business, made back in 2003. Banks like Bremer Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: RUBBER AND PLASTICS HOSES AND BELTING MANUFACTURING SBA Loan Lender BREMER BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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. NAICS Code 326220 - Rubber and Plastics Hoses and Belting Manufacturing Loan Approval Date 12/29/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $200,000. How would you spend $200,000 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: Small Business Banks in South Saint Paul, Minnesota
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