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May 6, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Lawn And Garden Tractor And Home Lawn And Garden Equipment Manufacturing Loan | ||||
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How to Get SBA Loans in St. Paul, Minnesota
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Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing Small Business LoansLooking for small business loans for lawn and garden tractor and home lawn and garden equipment manufacturing? Try the SBA. This $750,000 lawn and garden tractor and home lawn and garden equipment manufacturing loan was issued by a Minnesota bank. This company knew how to go about getting a business bank loan. Based in St. Paul, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Venture Bank, based in Bloomington, Minnesota. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN TRACTOR AND HOME LAWN AND GARDEN EQUIPMENT MANUFACTURING SBA Loan Lender VENTURE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing Loan Approval Date 2/13/2006 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $675,000. 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 36 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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. 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 Venture Bank 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: SBA 7A Banks for Bloomington, Minnesota Loans Getting an SBA Loan in Minnesota
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