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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Covington, Business Loans > Branch Bank & Trust Covington Business Loans > Building Equipment Contractors Loan | ||||
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Branch Bank & Trust
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SBA Loan from Branch Bank & Trust Helps Building Equipment Contractors CompanyBranch Bank & Trust 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. This growing company knew how to go about getting a business bank loan. Based in St. Francis, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Branch Bank & Trust, based in Covington, Georgia. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS SBA Loan Lender BRANCH BANK & TRUST This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 238290 - Building Equipment Contractors Loan Approval Date 5/19/2006 Loan Approval Gross Amount $53,500 Loan Approval from the SBA Of the total $53,500 loan amount, the SBA guaranteed $26,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business If you need money to start business in St. Francis MN, you ought to talk with a local St. Francis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St. Francis businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Branch Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Branch Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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. Related Links: Best Banks in Covington, Georgia
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