Building Equipment and Machinery Installation Contractors Bank Loans

Looking for bank loans for building equipment and machinery installation contractors? The SBA may be the answer. This $64,000 building equipment and machinery installation contractors loan was issued by a Minnesota bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Citizens St. Bank - Clara City, out of Clara City, Minnesota. The loan was granted and they received $64,000 to help grow their Clara City, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: BUILDING EQUIPMENT AND MACHINERY INSTALLATION CONTRACTORS
CLARA CITY, MN 56222

SBA Loan Lender

CITIZENS ST. BANK - CLARA CITY
55 1ST ST NW
CLARA CITY, MN 56222

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235950 - Building Equipment and Machinery Installation Contractors

Loan Approval Date

5/13/2002

Loan Approval Gross Amount

$64,000

Loan Approval from the SBA

Of the total $64,000 loan amount, the SBA guaranteed $54,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Citizens St. Bank - Clara City 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:

Direct Public Offerings

Best Banks in Clara City, Minnesota

Minnesota SBA 7A Lenders