Main Street Registry

Tube Bending Specialists, Inc.

Coon Rapids, MN · Machine Shops · NAICS 332710

Tube Bending Specialists, Inc. is a machine shop in Coon Rapids, Minnesota, classified under NAICS code 332710 (Machine Shops). The company was financed with an SBA 7(a) loan for a change of ownership totaling $1,224,100, approved on February 6, 2025 by Alerus Financial, National Association.

SBA 7(a) loan, change of ownership, approved Feb 6, 2025

$1,224,100 approvedLender: Alerus Financial, National Association10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,224,100
SBA-guaranteed amount
$918,075 (75% of the approval)
Lender
Alerus Financial, National Association, Grand Forks, ND
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
February 6, 2035 (estimated, approval date plus term)
Estimated monthly payment
$16,177 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 19, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
332710, Machine Shops
Project location
Anoka County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 26% 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