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May 6, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Stillwater, Business Loans > Central Bank Stillwater Business Loans > Fabricated Metal Products Loan | ||||
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MN Business Loans from Central Bank
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SBA Loan from Central Bank Helps Fabricated Metal Products CompanyCentral Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ramsey, Minnesota was able to borrow $150,000 from Central Bank. The SBA made the loan possible by guaranteeing $127,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCTS SBA Loan Lender CENTRAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3499 - Fabricated Metal Products NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 1/28/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 8 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Central Bank 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: SBA 7A Lenders in Stillwater, Minnesota
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