Masonry Contractors Business Loans

Looking for business loans for masonry contractors? An SBA loan may be just what you've been looking for. This $177,000 masonry contractors loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rush City, Minnesota was able to borrow $177,000 from Horizon Bank. The SBA made the loan possible by guaranteeing $88,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
RUSH CITY, MN 55069

SBA Loan Lender

HORIZON BANK
600 HILLSIDE AVE SW
PINE CITY, MN 55063

This lender processed this SBA loan 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

238140 - Masonry Contractors

Loan Approval Date

10/31/2005

Loan Approval Gross Amount

$177,000

Loan Approval from the SBA

Of the total $177,000 loan amount, the SBA guaranteed $88,500.

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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Horizon Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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