Milaca, Minnesota Lender Lends Money to General Long-Distance, Less-Than-One-Truckload Freight Trucking Company

Want to talk with a Milaca, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Milaca bank, that was approved by the SBA.

Applying for an SBA loan with 1st National Bank - Milaca worked out well for our friends at one local business in Wahkon, Minnesota. They received an SBA loan for $45,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE, LESS-THAN-ONE-TRUCKLOAD FREIGHT TRUCKING
WAHKON, MN 56386

SBA Loan Lender

1ST NATIONAL BANK - MILACA
190 2ND AVE SW
MILACA, MN 56353

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

484122 - General Long-Distance, Less-Than-One-Truckload Freight Trucking

Loan Approval Date

4/14/2006

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My 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 $45,000 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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