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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Oakdale, Business Loans > Western Bank Oakdale Business Loans > Machine Tool Manufacturing Loan | ||||
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SBA Lender Oakdale
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Entrepreneur Works With Oakdale, Minnesota Bank to Get an SBA LoanWant to talk with an Oakdale, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by an Oakdale bank, that was approved by the SBA. Applying for an SBA loan with Western Bank worked out well for our friends at one local business in White Bear Lake, Minnesota. The business was able to get an SBA loan for $500,000. Nice! SBA Loan Borrower COMPANY TYPE: MACHINE TOOL MANUFACTURING SBA Loan Lender WESTERN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 12/8/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 30 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, anyone can do it... so why not you? 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: SBA 7A Banks in Oakdale, Minnesota
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