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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hampton, Business Loans > Merchants Bank Hampton Business Loans > Custom Architectural Woodwork And Millwork Manufacturing Loan | ||||
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Hastings, Minnesota Bank Loan
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Commercial Loans for Custom Architectural Woodwork and Millwork ManufacturingLooking for commercial loans for custom architectural woodwork and millwork manufacturing? Talk to a banker who works with the SBA. This $100,000 custom architectural woodwork and millwork manufacturing loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hastings, Minnesota was able to borrow $100,000 from Merchants Bank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: CUSTOM ARCHITECTURAL WOODWORK AND MILLWORK MANUFACTURING SBA Loan Lender MERCHANTS BANK The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 337212 - Custom Architectural Woodwork and Millwork Manufacturing Loan Approval Date 4/23/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 19 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me! 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 Banks in Hampton, Minnesota
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