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May 13, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hibbing, Business Loans > American Bank Of The North Hibbing Business Loans > Sign Manufacturing Loan | ||||
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American Bank Of The North Loans
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Raising Money for Sign ManufacturingLooking for business loans for sign manufacturing? Talk to a banker who works with the SBA. This $73,000 sign manufacturing loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Eveleth, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was American Bank Of The North, based in Hibbing, Minnesota. SBA Loan Borrower COMPANY TYPE: SIGN MANUFACTURING SBA Loan Lender AMERICAN BANK OF THE NORTH Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339950 - Sign Manufacturing Loan Approval Date 8/7/2002 Loan Approval Gross Amount $73,000 Loan Approval from the SBA Of the total $73,000 loan amount, the SBA guaranteed $62,050. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Banks for Small Business in Hibbing, Minnesota
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