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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Shorewood, Business Loans > Beacon Bank Shorewood Business Loans > Semiconductor And Related Device Manufacturing Loan | ||||
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Business Loans for Eden Prairie Businesses
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Commercial Loans for Semiconductor and Related Device ManufacturingWith these commercial loans for semiconductor and related device manufacturing, the SBA guarantees the lender that the loan will be repaid. This semiconductor and related device manufacturing loan for $500,000 was given to a Minnesota entrepreneur in 2005. This business knew how to go about getting a business bank loan. Based in Eden Prairie, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Beacon Bank, based in Shorewood, Minnesota. SBA Loan Borrower COMPANY TYPE: SEMICONDUCTOR AND RELATED DEVICE MANUFACTURING SBA Loan Lender BEACON BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334413 - Semiconductor and Related Device Manufacturing Loan Approval Date 8/29/2005 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $450,000. 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 40 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 SBA Participating Banks in Shorewood, Minnesota
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