Business Loan from Bremer Bank Given to Bare Printed Circuit Board Manufacturing Company

Bremer Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in White Bear Lake, Minnesota was an essential business goal for this small business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank, operating out of Lake Elmo, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BARE PRINTED CIRCUIT BOARD MANUFACTURING
WHITE BEAR LAKE, MN 55110

SBA Loan Lender

BREMER BANK
8555 EAGLE POINT BLVD
LAKE ELMO, MN 55042

This lender issued this loan under the SBA's 7A loan, 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

334412 - Bare Printed Circuit Board Manufacturing

Loan Approval Date

2/6/2008

Loan Approval Gross Amount

$413,000

Loan Approval from the SBA

Of the total $413,000 loan amount, the SBA guaranteed $309,750.

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 56 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 49 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Banking Deregulation's Effects on Entrepreneurship

SBA Approved Banks in Lake Elmo, Minnesota

Browse All Business Loan Sources for Minnesota