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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cannon Falls, Business Loans > 1st National Bank In Cannon Falls Cannon Falls Business Loans > Electricity Measuring And Testing Instruments Loan | ||||
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1st National Bank In Cannon Falls SBA 7A Loans
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Where to Get Capital for Instrument Manufacturing for Measuring and Testing Electric DevicesLooking for small business loans for instrument manufacturing for measuring and testing electric devices? Try the SBA. This $70,000 instrument manufacturing for measuring and testing electric devices loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cannon Falls, Minnesota was able to borrow $70,000 from 1st National Bank In Cannon Falls. The SBA made the loan possible by guaranteeing $59,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRICITY MEASURING AND TESTING INSTRUMENTS SBA Loan Lender 1ST NATIONAL BANK IN CANNON FALLS This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3825 - Electricity Measuring and Testing Instruments NAICS Code 334515 - Instrument Manufacturing for Measuring and Testing Electric Devices Loan Approval Date 5/29/2003 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: A Company That Helps Entrepreneurs Best Cannon Falls, Minnesota Banks for Small Business
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