Minnesota Business Loan Issued to Poured Concrete Foundation And Structure Contractors Company

SBA loans in Minnesota are hard to find these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Grand Rapids, Minnesota was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of The North. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
GRAND RAPIDS, MN 55744

SBA Loan Lender

AMERICAN BANK OF THE NORTH
117 CENTRAL AVE
NASHWAUK, MN 55769

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

4/25/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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