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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Power And Communication Transmission Line Construction Loan | ||||
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Raising Money in Moorhead, Minnesota With SBA Loans
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State Bank & Trust Gives SBA Loan to Power And Communication Transmission Line Construction CompanySearching for a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a North Dakota bank that works with the SBA to help small business owners. Getting a small business loan in Moorhead, Minnesota was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from State Bank & Trust. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: POWER AND COMMUNICATION TRANSMISSION LINE CONSTRUCTION SBA Loan Lender STATE BANK & TRUST This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 234920 - Power and Communication Transmission Line Construction Loan Approval Date 6/25/2002 Loan Approval Gross Amount $920,000 Loan Approval from the SBA Of the total $920,000 loan amount, the SBA guaranteed $690,000. 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 application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 State Bank & Trust 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: Determining Proper Capital Structure for a Business SBA Banks in Fargo, North Dakota
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