Entrepreneur Works With Grand Rapids, Minnesota Bank to Get an SBA Loan

Find Grand Rapids, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. American Bank Of The North is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Cohasset, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from American Bank Of The North. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
COHASSET, MN 55721

SBA Loan Lender

AMERICAN BANK OF THE NORTH
1215 S POKEGAMA AVE
GRAND RAPIDS, MN 55744

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

4212 - Local Trucking Without Storage

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

2/14/2003

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 an existing 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 company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Grand Rapids, Minnesota

Minnesota SBA Banks