Minnesota Business Loan Issued to Bus And Motor Vehicle Transit Systems Company

MinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan.

This small business, based in Pine City, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Horizon Bank. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUS AND MOTOR VEHICLE TRANSIT SYSTEMS
PINE CITY, MN 55063

SBA Loan Lender

HORIZON BANK
600 HILLSIDE AVE SW
PINE CITY, MN 55063

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485113 - Bus and Motor Vehicle Transit Systems

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$790,000

Loan Approval from the SBA

Of the total $790,000 loan amount, the SBA guaranteed $592,500.

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 27 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $790,000. How would you spend $790,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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