Business Loans for Masonry Contractors

With these business loans for masonry contractors, the SBA guarantees the lender that the loan will be repaid. This masonry contractors loan for $55,000 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Alexandria, Minnesota was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Neighborhood National Bank, operating out of Alexandria, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
ALEXANDRIA, MN 56308

SBA Loan Lender

NEIGHBORHOOD NATIONAL BANK
803 N NOKOMIS NE
ALEXANDRIA, MN 56308

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238140 - Masonry Contractors

Loan Approval Date

3/26/2004

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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SBA Participating Banks in Alexandria, Minnesota

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