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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Nashwauk, Business Loans > American Bank Of The North Nashwauk Business Loans > Timber Tract Operations Loan | ||||
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Nashwauk Bank Loan
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Nashwauk, Minnesota Bank Gives SBA Loan to Timber Tract Operations CompanyGet small business loans from a Nashwauk, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. American Bank Of The North is a Nashwauk, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: TIMBER TRACT OPERATIONS SBA Loan Lender AMERICAN BANK OF THE NORTH This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 113110 - Timber Tract Operations Loan Approval Date 6/25/2004 Loan Approval Gross Amount $201,800 Loan Approval from the SBA Of the total $201,800 loan amount, the SBA guaranteed $100,900. 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 SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American Bank Of The North and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers Good Banks for Small Business in Nashwauk, Minnesota
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