SBA Loan from Kanabec State Bank Helps Construction Sand And Gravel Mining Company

An SBA loan from Kanabec State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stanchfield, Minnesota business owner got a $250,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Kanabec State Bank, out of Mora, Minnesota. The loan was granted and they received $250,000 to help grow their Stanchfield, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING
STANCHFIELD, MN 55080

SBA Loan Lender

KANABEC STATE BANK
124 MAPLE AVE EAST
MORA, MN 55051

This SBA business loan 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

212321 - Construction Sand and Gravel Mining

Loan Approval Date

11/6/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Kanabec 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.

Related Links:

Equity Financing

SBA 7A Banks for Mora, Minnesota Loans

Minnesota SBA 7A Lenders