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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > St. Stephen State Bank Saint Cloud Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Raising Money for General Long-Distance Freight TruckingLooking for bank loans for general long-distance freight trucking? Try the SBA. This $26,200 general long-distance freight trucking loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Stephen, Minnesota was able to borrow $26,200 from St. Stephen State Bank. The SBA made the loan possible by guaranteeing $22,270 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender ST. STEPHEN STATE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 9/28/2004 Loan Approval Gross Amount $26,200 Loan Approval from the SBA Of the total $26,200 loan amount, the SBA guaranteed $22,270. More Information on This SBA Loan The borrower borrowed this money for an existing 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. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. 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. We can help you find the best banks for small businesses in Saint Stephen 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: Good Banks for Small Business in Saint Cloud, Minnesota
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