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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > General Freight Trucking, Local Loan | ||||
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How to Get SBA Loans in Blaine, Minnesota
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SBA Loans for General Freight Trucking, LocalLooking for SBA loans for general freight trucking, local? Talk to a banker who works with the SBA. This $35,000 general freight trucking, local loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blaine, Minnesota was able to borrow $35,000 from Park Midway Bank. The SBA made the loan possible by guaranteeing $17,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender PARK MIDWAY BANK 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 3/24/2006 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Park Midway Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Saint Paul, Minnesota
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