Minnesota Machining Incorporated
Minnesota Machining Incorporated is located in Wyoming, MN, and the SBA lists its industry as Machine Shops. It was approved for an SBA 7(a) loan of $1,601,900 for a change of ownership on May 8, 2024.
SBA 7(a) loan, change of ownership, approved May 8, 2024
- Gross approval
- $1,601,900
- SBA-guaranteed amount
- $1,201,425 (75% of the approval)
- Lender
- Village Bank, Saint Francis, MN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 8.5%, fixed
- Term
- 10 years (120 months)
- Estimated maturity
- May 8, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $19,861 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 332710, Machine Shops
- Project location
- Chisago County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-06
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 39% of acquisition loans in Machine Shops on this site.
- Average acquisition loan in Machine Shops: $2,116,278.
- Average acquisition loan in Minnesota: $1,482,119.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Minnesota
- K-Manufacturing, Incorporated, Maple Grove
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- Authority Machining LLC, Anoka
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