SBA Loans for General Freight Trucking, Local

With these SBA loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $162,150 was given to a Minnesota entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Sauk Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was St. Stephen State Bank, based in Saint Cloud, Minnesota.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
SAUK RAPIDS, MN 56379

SBA Loan Lender

ST. STEPHEN STATE BANK
3950 3RD ST NORTH
SAINT CLOUD, MN 56301

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

4/7/2006

Loan Approval Gross Amount

$162,150

Loan Approval from the SBA

Of the total $162,150 loan amount, the SBA guaranteed $121,613.

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 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like St. Stephen State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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