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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Folding Paperboard Box Manufacturing Loan | ||||
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Raising Money in Milaca, Minnesota With SBA Loans
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Folding Paperboard Box Manufacturing Bank LoansLooking for bank loans for folding paperboard box manufacturing? An SBA loan may be just what you've been looking for. This $1,500,000 folding paperboard box manufacturing loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bremer Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $1,500,000 to help grow their Milaca, Minnesota business. SBA Loan Borrower COMPANY TYPE: FOLDING PAPERBOARD BOX MANUFACTURING SBA Loan Lender BREMER BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 322212 - Folding Paperboard Box Manufacturing Loan Approval Date 2/7/2007 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000. 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 35 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 35 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 - How to Decide How Much to Raise Who Lends Money to Small Businesses in Saint Cloud, Minnesota
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