Borrowing Money for Support Activities for Rail Transportation

With these loans for support activities for rail transportation, the SBA guarantees the lender that the loan will be repaid. This support activities for rail transportation loan for $860,000 was given to a North Dakota entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Kindred, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Wells Fargo Bank, based in Moorhead, Minnesota.

SBA Loan Borrower

COMPANY TYPE: RAILROAD SWITCHING AND TERMINAL ESTABLISHMENTS
KINDRED, ND 58051

SBA Loan Lender

WELLS FARGO BANK
730 CENTER AVE
MOORHEAD, MN 56560

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4013 - Railroad Switching and Terminal Establishments

NAICS Code

488210 - Support Activities for Rail Transportation

Loan Approval Date

5/25/2006

Loan Approval Gross Amount

$860,000

Loan Approval from the SBA

Of the total $860,000 loan amount, the SBA guaranteed $645,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Moorhead, Minnesota

Minnesota SBA Banks