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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 > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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Minnesota SBA 7A Lenders
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Nashwauk, Minnesota Bank Gives SBA Loan to Construction And Mining Machinery And Equipment Merchant CompanyGet to know Nashwauk, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. American Bank Of The North is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Hibbing, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from American Bank Of The North. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender AMERICAN BANK OF THE NORTH This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 4/11/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of The North so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Best Banks for Small Business in Nashwauk, Minnesota
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