Financing for Gasket, Packing, and Sealing Device Manufacturing

Looking for commercial loans for gasket, packing, and sealing device manufacturing? Talk to a banker who works with the SBA. This $54,000 gasket, packing, and sealing device manufacturing loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Elysian Bank, out of Elysian, Minnesota. The loan was granted and they received $54,000 to help grow their Elysian, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GASKET, PACKING, AND SEALING DEVICE MANUFACTURING
ELYSIAN, MN 56028

SBA Loan Lender

ELYSIAN BANK
121 E MAIN ST
ELYSIAN, MN 56028

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339991 - Gasket, Packing, and Sealing Device Manufacturing

Loan Approval Date

12/30/2002

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $45,900.

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 application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Elysian MN, you ought to talk with a local Elysian SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Elysian businesses.

We can help you find the best banks for small businesses in Elysian or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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