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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > New London, Business Loans > Lake Region Bank New London Business Loans > General Freight Trucking, Local Loan | ||||
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New London, Minnesota SBA Banks
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New London, Minnesota Bank Gives SBA Loan to General Freight Trucking, Local CompanyA New London, Minnesota business loan can be yours. Learn how a company got a $34,200 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Lake Region Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender LAKE REGION BANK 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 484110 - General Freight Trucking, Local Loan Approval Date 12/1/2006 Loan Approval Gross Amount $34,200 Loan Approval from the SBA Of the total $34,200 loan amount, the SBA guaranteed $17,100. 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 only one employee. This SBA loan request indicated that the funding would help generate 1 new job. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Benson or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in New London, Minnesota
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