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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Shakopee, Business Loans > Prime Security Bank Shakopee Business Loans > Special Needs Transportation Loan | ||||
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Prime Security Bank SBA 7A Loans
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How to Get a Loan for Special Needs TransportationWith these business loans for special needs transportation, the SBA guarantees the lender that the loan will be repaid. This special needs transportation loan for $420,000 was given to a Minnesota entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in Burnsville, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Prime Security Bank, based in Shakopee, Minnesota. SBA Loan Borrower COMPANY TYPE: SPECIAL NEEDS TRANSPORTATION SBA Loan Lender PRIME SECURITY BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 485991 - Special Needs Transportation Loan Approval Date 2/9/2005 Loan Approval Gross Amount $420,000 Loan Approval from the SBA Of the total $420,000 loan amount, the SBA guaranteed $315,000. 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 30 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Prime Security Bank and they will explain how you can get an SBA loan for your company. 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: SBA 7A Banks in Shakopee, Minnesota
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