Highway and Street Construction Loans

With these loans for highway and street construction, the SBA guarantees the lender that the loan will be repaid. This highway and street construction loan for $150,000 was given to a Minnesota entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with State Bank Of New Prague, out of New Prague, Minnesota. The loan was granted and they received $150,000 to help grow their Belle Plaine, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
BELLE PLAINE, MN 56011

SBA Loan Lender

STATE BANK OF NEW PRAGUE
201 CENTRAL AVE NORTH
NEW PRAGUE, MN 56071

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1611 - Highway and Street Construction

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

2/8/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank Of New Prague are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Small Business Banks in New Prague, Minnesota

Getting an SBA Loan in Minnesota