New London, Minnesota Lender Lends Money to General Freight Trucking, Local Company

Get small business loans from a New London, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Lake Region Bank is a New London, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
WILLMAR, MN 56201

SBA Loan Lender

LAKE REGION BANK
51 MAIN ST
NEW LONDON, MN 56273

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

484110 - General Freight Trucking, Local

Loan Approval Date

3/11/2004

Loan Approval Gross Amount

$27,500

Loan Approval from the SBA

Of the total $27,500 loan amount, the SBA guaranteed $13,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help create 1 new job.

Next Steps for Getting an SBA Loan

If you want money for new small business in Willmar MN, you ought to talk with a local Willmar SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Willmar businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in New London, Minnesota

Minnesota SBA 7A Banks