Getting an SBA Loan for Support Activities for Road Transportation

With these commercial loans for support activities for road transportation, the SBA guarantees the lender that the loan will be repaid. This support activities for road transportation loan for $30,000 was given to a Minnesota entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Alexandria, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Viking Savings Association F.A, based in Alexandria, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ROAD TRANSPORTATION
ALEXANDRIA, MN 56308

SBA Loan Lender

VIKING SAVINGS ASSOCIATION F.A
1311 BROADWAY
ALEXANDRIA, MN 56308

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

488490 - Support Activities for Road Transportation

Loan Approval Date

3/16/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Viking Savings Association F.A so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Incubators

Good Banks for Small Business in Alexandria, Minnesota

Where to Get an SBA Loan Minnesota