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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Special Die And Tool, Die Set, Jig, And Fixture Manufacturing Loan | ||||
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Minneapolis Lenders
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Minneapolis, Minnesota Bank Gives SBA Loan to Special Die And Tool, Die Set, Jig, And Fixture Manufacturing CompanyWant to talk with a Minneapolis, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Ramsey, Minnesota. The business was able to get an SBA loan for $40,000. Nice! SBA Loan Borrower COMPANY TYPE: SPECIAL DIE AND TOOL, DIE SET, JIG, AND FIXTURE MANUFACTURING SBA Loan Lender WELLS FARGO BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing Loan Approval Date 9/18/2002 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Small Business Banks in Minneapolis, Minnesota Where to Get an SBA Loan Minnesota
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