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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Dilworth, Business Loans > Northwestern Bank Dilworth Business Loans > Arrangement Of Transportation Of Freight And Cargo Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Dilworth, Minnesota Bank Gives SBA Loan to Arrangement Of Transportation Of Freight And Cargo CompanyA Dilworth, Minnesota business loan can be yours. Learn how a business got a $150,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Northwestern Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO SBA Loan Lender NORTHWESTERN BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4731 - Arrangement of Transportation of Freight and Cargo NAICS Code 488510 - Freight Transportation Arrangement Loan Approval Date 11/22/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds 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. 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 Northwestern 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: SBA Approved Banks in Dilworth, Minnesota
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