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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Elk River, Business Loans > 1st National Bank - Elk River Elk River Business Loans > Metal Coating, Engraving And Allied Services Loan | ||||
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Minnesota SBA Banks
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Elk River, Minnesota Bank Lends Money to Metal Coating, Engraving And Allied Services Company in Rogers, MinnesotaWant to talk with an Elk River, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Elk River bank, that was approved by the SBA. Applying for an SBA loan with 1st National Bank - Elk River worked out well for our friends at one local firm in Rogers, Minnesota. They got an SBA loan for $200,000. Way to go! SBA Loan Borrower COMPANY TYPE: METAL COATING, ENGRAVING AND ALLIED SERVICES SBA Loan Lender 1ST NATIONAL BANK - ELK RIVER When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program aims to provide rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332812 - Metal Coating, Engraving and Allied Services Loan Approval Date 10/15/2001 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 30 employees. The loan application did not indicate that the business promised to use the loan proceeds 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Elk River and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options SBA 7A Lenders in Elk River, Minnesota
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