SBA Loan from Freeport State Bank Helps General Long-Distance Freight Trucking Company

Freeport State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Melrose, Minnesota was able to borrow $180,000 from Freeport State Bank. The SBA made the loan possible by guaranteeing $90,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
MELROSE, MN 56352

SBA Loan Lender

FREEPORT STATE BANK
111 MAIN ST EAST
FREEPORT, MN 56331

This lender processed this business 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

484121 - General Long-Distance Freight Trucking

Loan Approval Date

7/16/2004

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Melrose MN, you ought to talk with a local Melrose SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Melrose businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Freeport State Bank and they will explain how you can get an SBA loan for your company.

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:

Equity Financing

Small Bank Loans in Freeport, Minnesota

SBA Minnesota Banks