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May 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Deer River, Business Loans > Woodland Bank Deer River Business Loans > Excavation Work Loan | ||||
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Grand Rapids, Minnesota Bank Loan
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Get an SBA Loan for Excavation ContractorsLooking for small business loans for excavation contractors? An SBA loan may be just what you've been looking for. This $127,000 excavation contractors loan was issued by a Minnesota bank. Getting a small business loan in Grand Rapids, Minnesota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Woodland Bank, operating out of Deer River, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender WOODLAND BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 5/28/2003 Loan Approval Gross Amount $127,000 Loan Approval from the SBA Of the total $127,000 loan amount, the SBA guaranteed $107,950. 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. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $127,000. How would you spend $127,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Realistic Debt Financing Options Small Bank Loans in Deer River, Minnesota
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