Business Loans for Hand and Edge Tool Manufacturing

Looking for business loans for hand and edge tool manufacturing? An SBA loan may be just what you've been looking for. This $350,000 hand and edge tool manufacturing loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Apple Valley, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was American Bank Of St. Paul, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HAND AND EDGE TOOL MANUFACTURING
APPLE VALLEY, MN 55124

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

12/26/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs.

Next Steps for Getting an SBA Loan

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

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 $350,000 loan. Remember, you control your own destiny.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Saint Paul, Minnesota

Getting a Business Loan in Minnesota