Raising Money for Support Activities for Air Transportation

Looking for bank loans for support activities for air transportation? The SBA may be the answer. This $113,530 support activities for air transportation loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cambridge, Minnesota was able to borrow $113,530 from Horizon Bank. The SBA made the loan possible by guaranteeing $96,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: AIRPORTS, FLYING FIELDS, AND TERMINAL SERVICES
CAMBRIDGE, MN 55008

SBA Loan Lender

HORIZON BANK
600 HILLSIDE AVE SW
PINE CITY, MN 55063

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4581 - Airports, Flying Fields, and Terminal Services

NAICS Code

488190 - Support Activities for Air Transportation

Loan Approval Date

10/15/2001

Loan Approval Gross Amount

$113,530

Loan Approval from the SBA

Of the total $113,530 loan amount, the SBA guaranteed $96,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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