Financing for General Freight Trucking, Local

Looking for loans for general freight trucking, local? Try the SBA. This $277,370 general freight trucking, local loan was issued by a Minnesota bank.

Getting a small business loan in Deer Creek, Minnesota was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Wadena State Bank, operating out of Deer Creek, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
DEER CREEK, MN 56527

SBA Loan Lender

WADENA STATE BANK
MAIN ST
DEER CREEK, MN 56527

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484110 - General Freight Trucking, Local

Loan Approval Date

11/22/2004

Loan Approval Gross Amount

$277,370

Loan Approval from the SBA

Of the total $277,370 loan amount, the SBA guaranteed $208,028.

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 15 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wadena State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

SBIR Funding

Find an SBA Lender in Deer Creek, Minnesota

Getting an SBA Loan in Minnesota