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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Chisholm, Business Loans > American Bank Of The North Chisholm Business Loans > Motor Vehicle Towing Loan | ||||
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Business Loan from American Bank Of The North
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Business Loan from American Bank Of The North Given to Motor Vehicle Towing CompanyAn SBA loan from American Bank Of The North typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Virginia, Minnesota business owner got a $38,000 loan. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with American Bank Of The North, out of Chisholm, Minnesota. The loan was granted and they received $38,000 to help grow their Virginia, Minnesota business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender AMERICAN BANK OF THE NORTH Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 6/21/2001 Loan Approval Gross Amount $38,000 Loan Approval from the SBA Of the total $38,000 loan amount, the SBA guaranteed $32,300. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $38,000 loan. Remember, feel the fear, and do it anyway. 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: SBA Approved Banks in Chisholm, Minnesota Find an SBA Lender in Minnesota
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