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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Lakeville, Business Loans > Lakeview Bank Lakeville Business Loans > Machine Shops Loan | ||||
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How to Get SBA Loans from Lakeview Bank
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Rosemount, Minnesota Business Gets SBA-Guaranteed Funding from Lakeview BankAn SBA loan from Lakeview Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rosemount, Minnesota business owner got a $1,550,000 loan. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Lakeview Bank, out of Lakeville, Minnesota. The loan was granted and they received $1,550,000 to help grow their Rosemount, Minnesota business. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender LAKEVIEW BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 11/3/2006 Loan Approval Gross Amount $1,550,000 Loan Approval from the SBA Of the total $1,550,000 loan amount, the SBA guaranteed $1,162,500. 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 7 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $1,550,000. How would you spend $1,550,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Good Banks for Small Business in Lakeville, Minnesota
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