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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Anoka, Business Loans > 1st National Bank - Elk River Anoka Business Loans > Excavation Contractors Loan | ||||
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Anoka Lenders
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Anoka, Minnesota Bank Lends Money to Excavation Contractors Company in Monticello, MinnesotaGet business loans from an Anoka, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. 1st National Bank - Elk River is a Anoka, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender 1ST NATIONAL BANK - ELK RIVER SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235930 - Excavation Contractors Loan Approval Date 3/6/2002 Loan Approval Gross Amount $575,000 Loan Approval from the SBA Of the total $575,000 loan amount, the SBA guaranteed $431,250. 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 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Elk River and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Friends and Family SBA 7A Banks for Anoka, Minnesota Loans
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