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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Foley, Business Loans > Falcon National Bank Foley Business Loans > Power And Communication Line And Related Structures Construction Loan | ||||
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Get a Small Business Loan in Clear Lake, Minnesota
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Clear Lake, Minnesota Entrepreneur Gets an SBA LoanLooking to get a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Minnesota bank that works with the SBA to help small business owners. Getting a small business loan in Clear Lake, Minnesota was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Falcon National Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender FALCON NATIONAL BANK This lender processed this debt financing 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 11/14/2007 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 application for the borrower indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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. Related Links: Best Banks in Foley, Minnesota
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