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May 31, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Coffee And Tea Manufacturing Loan | ||||
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Minnesota Small Business Funding
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Get an SBA Loan for Coffee and Tea ManufacturingWith these loans for coffee and tea manufacturing, the SBA guarantees the lender that the loan will be repaid. This coffee and tea manufacturing loan for $60,000 was given to a Minnesota entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $60,000 from Associated Bank. The SBA made the loan possible by guaranteeing $51,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COFFEE AND TEA MANUFACTURING SBA Loan Lender ASSOCIATED BANK This lender provides SBA small business 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 311920 - Coffee and Tea Manufacturing Loan Approval Date 6/28/2002 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. This SBA loan was for $60,000. How would you spend $60,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Minneapolis, Minnesota Find an SBA Lender in Minnesota
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