Machine Shops Business Loans

Looking for business loans for machine shops? The SBA may be the answer. This $348,000 machine shops loan was issued by a Minnesota bank.

Getting a small business loan in Sauk Centre, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Osakis, operating out of Osakis, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SAUK CENTRE, MN 56378

SBA Loan Lender

1ST NATIONAL BANK - OSAKIS
211-13 CENTRAL
OSAKIS, MN 56360

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 American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

8/18/2003

Loan Approval Gross Amount

$348,000

Loan Approval from the SBA

Of the total $348,000 loan amount, the SBA guaranteed $261,000.

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 16 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $348,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Dealing With Venture Capitalists

Best Osakis, Minnesota Banks for Small Business

Getting a Business Loan in Minnesota