Financing for Highway and Street Construction

With these loans for highway and street construction, the SBA guarantees the lender that the loan will be repaid. This highway and street construction loan for $900,000 was given to a Minnesota entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Henderson, Minnesota was able to borrow $900,000 from Fidelity Bank. The SBA made the loan possible by guaranteeing $675,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
HENDERSON, MN 56044

SBA Loan Lender

FIDELITY BANK
7600 PARKLAWN AVE
EDINA, MN 55435

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1611 - Highway and Street Construction

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

4/5/2001

Loan Approval Gross Amount

$900,000

Loan Approval from the SBA

Of the total $900,000 loan amount, the SBA guaranteed $675,000.

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 17 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Henderson or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Microlending as a Small Business Funding Source

Banks in Edina, Minnesota

Minnesota SBA 7A Lenders