Bank Loans for Power and Communication Line and Related Structures Construction

Looking for bank loans for power and communication line and related structures construction? The SBA may be the answer. This $32,400 power and communication line and related structures construction loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Andover, Minnesota was able to borrow $32,400 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $16,200 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION
ANDOVER, MN 55304

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

237130 - Power and Communication Line and Related Structures Construction

Loan Approval Date

4/6/2005

Loan Approval Gross Amount

$32,400

Loan Approval from the SBA

Of the total $32,400 loan amount, the SBA guaranteed $16,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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