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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Roseville, Business Loans > North American Banking Company Roseville Business Loans > Power And Communication Transmission Line Construction Loan | ||||
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Advice for Business Owners On Getting a Loan
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Where to Get Capital for Power and Communication Transmission Line ConstructionWith these small business loans for power and communication transmission line construction, the SBA guarantees the lender that the loan will be repaid. This power and communication transmission line construction loan for $150,000 was given to a Minnesota entrepreneur in 2004. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with North American Banking Company, out of Roseville, Minnesota. The loan was granted and they received $150,000 to help grow their Eagan, Minnesota business. SBA Loan Borrower COMPANY TYPE: POWER AND COMMUNICATION TRANSMISSION LINE CONSTRUCTION SBA Loan Lender NORTH AMERICAN BANKING COMPANY This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 234920 - Power and Communication Transmission Line Construction Loan Approval Date 10/7/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 small business planned to use the loan proceeds to add employees or retain any existing employees. 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 $150,000 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: The Friends and Family Network Find an SBA Lender in Minnesota
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