How to Get a Loan for Power and Communication Line and Related Structures Construction

Looking for business loans for power and communication line and related structures construction? Talk to a banker who works with the SBA. This $85,000 power and communication line and related structures construction loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Mentor, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Unity Bank North, based in Red Lake Falls, Minnesota.

SBA Loan Borrower

COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION
MENTOR, MN 56736

SBA Loan Lender

UNITY BANK NORTH
210 MAIN ST
RED LAKE FALLS, MN 56750

This lender processed this loan for a small business 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

237130 - Power and Communication Line and Related Structures Construction

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $42,500.

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 indicated that the funding would help generate 1 new job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Unity Bank North are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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