How to Get a Loan for Schiffli Machine Embroidery
Looking for SBA loans for schiffli machine embroidery? Talk to a banker who works with the SBA. This $49,600 schiffli machine embroidery loan was issued by a Minnesota bank.
This small business knew how to go about getting a business bank loan. Based in Jackson, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Bank Midwest Minnesota Iowa Na, based in Jackson, Minnesota.
SBA Loan Borrower
COMPANY TYPE: SCHIFFLI MACHINE EMBROIDERIES
JACKSON, MN 56143
SBA Loan Lender
BANK MIDWEST MINNESOTA IOWA NA
509 3RD ST
JACKSON, MN 56143
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2397 - Schiffli Machine Embroideries
NAICS Code
313222 - Schiffli Machine Embroidery
Loan Approval Date
12/17/2001
Loan Approval Gross Amount
$49,600
Loan Approval from the SBA
Of the total $49,600 loan amount, the SBA guaranteed $42,160.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
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.
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