Local Business Gets a Minnesota Small Business Loan

Would a Minnesota business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

You can learn something about getting a small business loan in Red Lake Falls, Minnesota by studying this loan to a local business, made back in 2007. Banks like Unity Bank North may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
RED LAKE FALLS, MN 56750

SBA Loan Lender

UNITY BANK NORTH
210 MAIN ST
RED LAKE FALLS, MN 56750

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

484110 - General Freight Trucking, Local

Loan Approval Date

3/20/2007

Loan Approval Gross Amount

$61,800

Loan Approval from the SBA

Of the total $61,800 loan amount, the SBA guaranteed $30,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

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.

This SBA loan was for $61,800. How would you spend $61,800 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.

Related Links:

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SBA Banks in Red Lake Falls, Minnesota

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