Menahga, Minnesota Bank Gives SBA Loan to Specialized Local Freight Trucking Company

Find Menahga, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. First National Bank - Menahga & Sebe is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Park Rapids, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First National Bank - Menahga & Sebe. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
PARK RAPIDS, MN 56470

SBA Loan Lender

FIRST NATIONAL BANK - MENAHGA & SEBE
21 MAIN ST NE
MENAHGA, MN 56464

This lender processed this debt financing 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

484220 - Specialized Local Freight Trucking

Loan Approval Date

10/17/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

VC Firms on Twitter

Who Lends Money to Small Businesses in Menahga, Minnesota

Minnesota SBA Bank Lenders