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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Forks, Business Loans > Alerus Financial Grand Forks Business Loans > Site Preparation Contractors Loan | ||||
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Get a Small Business Loan from Alerus Financial
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Alerus Financial SBA Loan to Site Preparation Contractors CompanyAlerus Financial and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in East Grand Forks, Minnesota, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Alerus Financial, based in Grand Forks, North Dakota. SBA Loan Borrower COMPANY TYPE: SITE PREPARATION CONTRACTORS SBA Loan Lender ALERUS FINANCIAL 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 238910 - Site Preparation Contractors Loan Approval Date 8/3/2004 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $115,000. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Grand Forks, North Dakota
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