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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > South Saint Paul, Business Loans > Bremer Bank South Saint Paul Business Loans > Machine Shops Loan | ||||
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Small Business Banks That Lend to Northfield Small Business Owners
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Growing Company Gets a Minnesota Small Business LoanMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Bremer Bank, this Northfield, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender BREMER BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 1/19/2007 Loan Approval Gross Amount $1,769,600 Loan Approval from the SBA Of the total $1,769,600 loan amount, the SBA guaranteed $1,327,200. 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 26 employees. The loan application indicated that the loan would help generate 9 new jobs and retain 26 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Northfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Role of Business Plan When Raising Money SBA Participating Banks in South Saint Paul, Minnesota
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