Borrowing Money for Freight Transportation Arrangement

With these bank loans for freight transportation arrangement, the SBA guarantees the lender that the loan will be repaid. This freight transportation arrangement loan for $170,000 was given to a Minnesota entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with 1st National Bank - Milaca, out of Milaca, Minnesota. The loan was granted and they received $170,000 to help grow their Isle, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
ISLE, MN 56342

SBA Loan Lender

1ST NATIONAL BANK - MILACA
190 2ND AVE SW
MILACA, MN 56353

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

488510 - Freight Transportation Arrangement

Loan Approval Date

7/28/2006

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Milaca that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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