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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > River Falls, Business Loans > 1st National Bank - River Falls River Falls Business Loans > General Freight Trucking, Local Loan | ||||
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Business Loans for Rosemount Businesses
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Loans for General Freight Trucking, LocalLooking for loans for general freight trucking, local? An SBA loan may be just what you've been looking for. This $70,700 general freight trucking, local loan was issued by a Wisconsin bank. Getting a small business loan in Rosemount, Minnesota was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - River Falls, operating out of River Falls, Wisconsin. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender 1ST NATIONAL BANK - RIVER FALLS This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 484110 - General Freight Trucking, Local Loan Approval Date 5/16/2005 Loan Approval Gross Amount $70,700 Loan Approval from the SBA Of the total $70,700 loan amount, the SBA guaranteed $35,350. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. 1st National Bank - River Falls had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, 1st National Bank - River Falls made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Best River Falls, Wisconsin Banks for Small Business
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