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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Forks, Business Loans > Bremer Bank Grand Forks Business Loans > Measuring And Controlling Devices Loan | ||||
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East Grand Forks, Minnesota Bank for SBA Loans
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Business Loans for Measuring and Controlling Device ManufacturingLooking for business loans for measuring and controlling device manufacturing? An SBA loan may be just what you've been looking for. This $900,000 measuring and controlling device manufacturing loan was issued by a North Dakota bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bremer Bank, out of Grand Forks, North Dakota. The loan was granted and they received $900,000 to help grow their East Grand Forks, Minnesota business. SBA Loan Borrower COMPANY TYPE: MEASURING AND CONTROLLING DEVICES SBA Loan Lender BREMER BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3829 - Measuring and Controlling Devices NAICS Code 334519 - Measuring and Controlling Device Manufacturing Loan Approval Date 4/16/2003 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. 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 80 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. 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 Bremer 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: Find an SBA Lender in Grand Forks, North Dakota
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