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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Highway And Street Construction Loan | ||||
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SBA Lender Mountain Lake Minnesota
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Where to Get Capital for Highway and Street ConstructionLooking for small business loans for highway and street construction? The SBA may be the answer. This $188,000 highway and street construction loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mountain Lake, Minnesota was able to borrow $188,000 from Bank Of The West. The SBA made the loan possible by guaranteeing $141,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender BANK OF THE WEST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1611 - Highway and Street Construction NAICS Code 234110 - Highway and Street Construction Loan Approval Date 12/28/2000 Loan Approval Gross Amount $188,000 Loan Approval from the SBA Of the total $188,000 loan amount, the SBA guaranteed $141,000. 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 30 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $188,000 loan. Remember, feel the fear, and do it anyway. 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: Advice on Getting a Small Business Loan Best Banks for Small Business in Salt Lake City, Utah
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