Financing for Freight Transportation Arrangement

Looking for commercial loans for freight transportation arrangement? An SBA loan may be just what you've been looking for. This $40,000 freight transportation arrangement loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Mankato, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Elysian Bank, based in Elysian, Minnesota.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
MANKATO, MN 56048

SBA Loan Lender

ELYSIAN BANK
121 E MAIN ST
ELYSIAN, MN 56028

This lender issued this loan under the 7A SBA 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.

NAICS Code

488510 - Freight Transportation Arrangement

Loan Approval Date

3/10/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

SBA Banks in Elysian, Minnesota

Getting an SBA Loan in Minnesota