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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Faribault, Business Loans > 1st United Bank Faribault Business Loans > Site Preparation Contractors Loan | ||||
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How to Get SBA Loans in Wanamingo, Minnesota
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Financing for Site Preparation ContractorsLooking for loans for site preparation contractors? An SBA loan may be just what you've been looking for. This $350,000 site preparation contractors loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with 1st United Bank, out of Faribault, Minnesota. The loan was granted and they received $350,000 to help grow their Wanamingo, Minnesota business. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender 1ST UNITED BANK The lender provided this commercial loan 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 238910 - Site Preparation Contractors Loan Approval Date 8/18/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 38 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 40 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 $350,000 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. Related Links: SBA 7A Banks in Faribault, Minnesota
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