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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Morristown, Business Loans > Lake Country Community Bank Morristown Business Loans > Masonry Contractors Loan | ||||
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Faribault, Minnesota Bank for SBA Loans
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Bank Loans for Masonry ContractorsLooking for bank loans for masonry contractors? An SBA loan may be just what you've been looking for. This $10,000 masonry contractors loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Faribault, Minnesota was able to borrow $10,000 from Lake Country Community Bank. The SBA made the loan possible by guaranteeing $5,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: MASONRY CONTRACTORS SBA Loan Lender LAKE COUNTRY COMMUNITY BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238140 - Masonry Contractors Loan Approval Date 7/21/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA Participating Banks in Morristown, Minnesota
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