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May 7, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ramsey, Business Loans > Landmark Commun Bank Ramsey Business Loans > Machine Tools, Metal Cutting Types Loan | ||||
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SBA Lender Ramsey
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Ramsey, Minnesota Bank Gives SBA Loan to Machine Tools, Metal Cutting Types CompanyA Ramsey, Minnesota SBA loan can be yours. Learn how a business got a $125,000 business loan from this Minnesota bank. This loan to an entrepreneur is a good example of an SBA loan. Landmark Commun Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES SBA Loan Lender LANDMARK COMMUN BANK 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 3541 - Machine Tools, Metal Cutting Types NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 7/13/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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 loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Landmark Commun Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Landmark Commun Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Ramsey, Minnesota
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