Commercial Loans for Freight Transportation Arrangement

Looking for commercial loans for freight transportation arrangement? Talk to a banker who works with the SBA. This $165,000 freight transportation arrangement loan was issued by a Minnesota bank.

Getting a small business loan in Spirit Lake, Iowa was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Midwest Minnesota Iowa Na, operating out of Fairmont, Minnesota. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT
SPIRIT LAKE, IA 51360

SBA Loan Lender

BANK MIDWEST MINNESOTA IOWA NA
118 DOWNTOWN PLAZA
FAIRMONT, MN 56031

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

488510 - Freight Transportation Arrangement

Loan Approval Date

8/8/2006

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $82,500.

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 20 employees. The SBA loan documents indicated that the loan would help retain 20 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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