Baxter, Minnesota Bank Gives SBA Loan to Plastics Material And Resin Manufacturing Company

Get to know Baxter, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Mid-Minnesota Fcu is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Little Falls, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Mid-Minnesota Fcu. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIAL AND RESIN MANUFACTURING
LITTLE FALLS, MN 56345

SBA Loan Lender

MID-MINNESOTA FCU
13283 ISLE DR
BAXTER, MN 56425

This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325211 - Plastics Material and Resin Manufacturing

Loan Approval Date

11/23/2007

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 14 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Mid-Minnesota Fcu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

How to Raise Money

SBA Participating Banks in Baxter, Minnesota

Minnesota SBA 7A Banks