Oak Park Heights, Minnesota Entrepreneur Gets a Business Loan

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

You can learn something about getting a small business loan in Oak Park Heights, Minnesota by studying this loan to a local company, made back in 2006. Banks like Lake Elmo Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MILITARY ARMORED VEHICLE, TANK, AND TANK COMPONENT MANUFACTURING
OAK PARK HEIGHTS, MN 55082

SBA Loan Lender

LAKE ELMO BANK
600 INWOOD AVE NORTH
OAKDALE, MN 55128

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336992 - Military Armored Vehicle, Tank, and Tank Component Manufacturing

Loan Approval Date

1/23/2006

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,350,000.

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 500 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Oak Park Heights MN, you ought to talk with a local Oak Park Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oak Park Heights businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 Start-Up Capital

SBA Participating Banks in Oakdale, Minnesota

Minnesota SBA Bank Lenders