American Savings, Inc. SBA Loan to Local Trucking Without Storage Company

American Savings, Inc. and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Dakota, Minnesota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was American Savings, Inc., based in New Prague, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
DAKOTA, MN 55925

SBA Loan Lender

AMERICAN SAVINGS, INC.
815 FIRST ST SE
NEW PRAGUE, MN 56071

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4212 - Local Trucking Without Storage

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$41,500

Loan Approval from the SBA

Of the total $41,500 loan amount, the SBA guaranteed $33,200.

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 2 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Dakota MN, you ought to talk with a local Dakota SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dakota 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 $41,500 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:

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Who Lends Money to Small Businesses in New Prague, Minnesota

Minnesota SBA Bank Lenders