Borrowing Money for Special Trade Contractors

With these small business loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $40,000 was given to a Minnesota entrepreneur in 2003.

Getting a small business loan in Merrifield, Minnesota was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Deerwood, operating out of Brainerd, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
MERRIFIELD, MN 56465

SBA Loan Lender

1ST NATIONAL BANK - DEERWOOD
724 W WASHINGTON ST
BRAINERD, MN 56401

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

4/30/2003

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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 1st National Bank - Deerwood 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.

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