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May 13, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mora, Business Loans > Kanabec State Bank Mora Business Loans > Water And Sewer Line And Related Structures Construction Loan | ||||
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Mora, Minnesota Bank for SBA Loans
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Where to Get Capital for Water and Sewer Line and Related Structures ConstructionWith these SBA loans for water and sewer line and related structures construction, the SBA guarantees the lender that the loan will be repaid. This water and sewer line and related structures construction loan for $400,000 was given to a Minnesota entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mora, Minnesota was able to borrow $400,000 from Kanabec State Bank. The SBA made the loan possible by guaranteeing $300,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WATER AND SEWER LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender KANABEC STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237110 - Water and Sewer Line and Related Structures Construction Loan Approval Date 2/14/2007 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $400,000 loan. Remember, if it to be, it is up to me! 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: Obtaining Funding - Getting Venture Capital Small Bank Loans in Mora, Minnesota
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