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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eagan, Business Loans > American Bank Of St. Paul Eagan Business Loans > Manufacturing Loan | ||||
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Inver Grove Heights (rr Name I, Minnesota Bank Loan
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Where to Get Capital for ManufacturingLooking for small business loans for manufacturing? An SBA loan may be just what you've been looking for. This $80,000 manufacturing loan was issued by a Minnesota bank. This company knew how to go about getting a business bank loan. Based in Inver Grove Heights (rr Name I, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was American Bank Of St. Paul, based in Eagan, Minnesota. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender AMERICAN BANK OF ST. PAUL This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 339999 - Manufacturing Loan Approval Date 4/19/2004 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Bank Of St. Paul that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Getting an SBA Loan in Minnesota
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