SBA Loans for Building Material Dealers

Looking for SBA loans for building material dealers? The SBA may be the answer. This $123,500 building material dealers loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Grand Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was 1st National Bank - Coleraine, based in Coleraine, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
GRAND RAPIDS, MN 55744

SBA Loan Lender

1ST NATIONAL BANK - COLERAINE
W HWY 169
COLERAINE, MN 55722

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

444190 - Building Material Dealers

Loan Approval Date

8/4/2006

Loan Approval Gross Amount

$123,500

Loan Approval from the SBA

Of the total $123,500 loan amount, the SBA guaranteed $61,750.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Startup Funding Tip

Where to Get an SBA Loan in Coleraine, Minnesota

SBA Lenders in Minnesota