Loans for Solid Waste Collection

With these loans for solid waste collection, the SBA guarantees the lender that the loan will be repaid. This solid waste collection loan for $881,400 was given to a Minnesota entrepreneur in 2003.

Getting a small business loan in Sauk Centre, Minnesota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank, operating out of Spicer, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOLID WASTE COLLECTION
SAUK CENTRE, MN 56378

SBA Loan Lender

HERITAGE BANK
110 SOUTH ST WEST
SPICER, MN 56288

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

5/9/2003

Loan Approval Gross Amount

$881,400

Loan Approval from the SBA

Of the total $881,400 loan amount, the SBA guaranteed $547,825.

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 9 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 9 existing jobs.

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $881,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Participating Banks in Spicer, Minnesota

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