Financing for Air-Conditioning and Warm Air Heating Equipment

Looking for loans for air-conditioning and warm air heating equipment? The SBA may be the answer. This $500,000 air-conditioning and warm air heating equipment loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Zimmerman, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Woodlands National Bank, based in Onamia, Minnesota.

SBA Loan Borrower

COMPANY TYPE: AIR-CONDITIONING AND WARM AIR HEATING EQUIPMENT
ZIMMERMAN, MN 55398

SBA Loan Lender

WOODLANDS NATIONAL BANK
424 E MAIN ST
ONAMIA, MN 56359

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333415 - Air-Conditioning and Warm Air Heating Equipment

Loan Approval Date

8/17/2004

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Woodlands National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - How to Decide How Much to Raise

Find an SBA Lender in Onamia, Minnesota

Minnesota SBA 7A Lenders