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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomfield, Business Loans > Farmers & Merchants St. Bank B Bloomfield Business Loans > Plastics Product Manufacturing Loan | ||||
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Blooming Prairie, Minnesota Bank for SBA Loans
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Loans for Plastics Product ManufacturingLooking for loans for plastics product manufacturing? Try the SBA. This $250,000 plastics product manufacturing loan was issued by a Nebraska bank. This small firm knew how to go about getting a business bank loan. Based in Blooming Prairie, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Farmers & Merchants St. Bank B, based in Bloomfield, Nebraska. SBA Loan Borrower COMPANY TYPE: PLASTICS PRODUCT MANUFACTURING SBA Loan Lender FARMERS & MERCHANTS ST. BANK B The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business 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 326199 - Plastics Product Manufacturing Loan Approval Date 11/13/2007 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 11 employees. The loan application indicated that the loan would help retain 11 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Farmers & Merchants St. Bank B and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist SBA Banks in Bloomfield, Nebraska
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