Business Loan from Farmers & Merchants St. Bank - S Given to General Long-Distance Freight Trucking Company

Farmers & Merchants St. Bank - S and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Springfield, Minnesota was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Merchants St. Bank - S, operating out of Springfield, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
SPRINGFIELD, MN 56087

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - S
101 N MARSHALL
SPRINGFIELD, MN 56087

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

10/3/2007

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $155,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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