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May 6, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Stillwater, Business Loans > Central Bank Stillwater Business Loans > Steam, Gas And Hydraulic Turbines And Generators Loan | ||||
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Central Bank
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Blaine, Minnesota Business Gets SBA-Guaranteed Funding from Central BankCentral Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Blaine, Minnesota was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Central Bank, operating out of Stillwater, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: STEAM, GAS AND HYDRAULIC TURBINES AND GENERATORS SBA Loan Lender CENTRAL BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3511 - Steam, Gas and Hydraulic Turbines and Generators NAICS Code 333611 - Turbine and Turbine Generator Set Units Manufacturing Loan Approval Date 9/24/2002 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Central Bank and they will explain how you can get an SBA loan for your company. 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: Find an SBA Lender in Stillwater, Minnesota Browse All Business Loan Sources for Minnesota
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