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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Maple Grove, Business Loans > Highland Bank Maple Grove Business Loans > Industrial Trucks, Tractors, Trailers, And Stacker Loan | ||||
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Minnesota Small Business Loans from Highland Bank
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Highland Bank SBA Loan to Industrial Trucks, Tractors, Trailers, And Stacker CompanyHighland Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Savage, Minnesota was able to borrow $100,000 from Highland Bank. The SBA made the loan possible by guaranteeing $85,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL TRUCKS, TRACTORS, TRAILERS, AND STACKER SBA Loan Lender HIGHLAND BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3537 - Industrial Trucks, Tractors, Trailers, and Stacker NAICS Code 333924 - Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing Loan Approval Date 7/14/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Determining Proper Capital Structure for a Business Best Banks in Maple Grove, Minnesota SBA Participating Banks in Minnesota
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