Switchgear and Switchboard Apparatus Manufacturing Small Business Loans

With these small business loans for switchgear and switchboard apparatus manufacturing, the SBA guarantees the lender that the loan will be repaid. This switchgear and switchboard apparatus manufacturing loan for $100,000 was given to a Minnesota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Coon Rapids (rr Name Coon Cree, Minnesota was able to borrow $100,000 from Kleinbank. The SBA made the loan possible by guaranteeing $85,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SWITCHGEAR AND SWITCHBOARD APPARATUS MANUFACTURING
COON RAPIDS (RR NAME COON CREE, MN 55433

SBA Loan Lender

KLEINBANK
611 ROSE DR
BIG LAKE, MN 55318

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335313 - Switchgear and Switchboard Apparatus Manufacturing

Loan Approval Date

12/28/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 10 employees. The loan application indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Kleinbank 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:

Business Line of Credit

SBA Participating Banks in Big Lake, Minnesota

SBA Lenders in Minnesota