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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ely, Business Loans > Boundary Waters Bank Ely Business Loans > Local Trucking Without Storage Loan | ||||
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Ely, Minnesota SBA Banks
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Ely, Minnesota Lender Lends Money to Local Trucking Without Storage CompanyThinking about meeting with an Ely, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by an Ely bank, that was approved by the SBA. Applying for an SBA loan with Boundary Waters Bank worked out well for our friends at one local firm in Embarass, Minnesota. They received an SBA loan for $90,000. Great job! SBA Loan Borrower COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE SBA Loan Lender BOUNDARY WATERS BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4212 - Local Trucking Without Storage NAICS Code 484220 - Specialized Local Freight Trucking Loan Approval Date 6/20/2001 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks in Ely, Minnesota
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