Bank Of The West SBA Loan to Trucking Company
Want a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Royalton, Minnesota was able to borrow $115,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $86,250 of this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: TRUCKING
ROYALTON, MN 56373
SBA Loan Lender
BANK OF THE WEST
65 E BROADWAY
LITTLE FALLS, MN 56345
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
4213 - Trucking
Loan Approval Date
2/28/2000
Loan Approval Gross Amount
$115,000
Loan Approval from the SBA
Of the total $115,000 loan amount, the SBA guaranteed $86,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This SBA loan was for $115,000. How would you spend $115,000 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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Banks in Little Falls, Minnesota
SBA Lenders in Minnesota