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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Morris, Business Loans > Bremer Bank Morris Business Loans > General Freight Trucking, Local Loan | ||||
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Minnesota Business Loan from Bremer Bank
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SBA Loan from Bremer Bank Helps General Freight Trucking, Local CompanyAn SBA loan from Bremer Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cyrus, Minnesota business owner got a $32,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cyrus, Minnesota was able to borrow $32,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $27,200 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender BREMER BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 7/12/2004 Loan Approval Gross Amount $32,000 Loan Approval from the SBA Of the total $32,000 loan amount, the SBA guaranteed $27,200. 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 only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $32,000. How would you spend $32,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Good Banks for Small Business in Morris, Minnesota
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