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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Pine City, Business Loans > Horizon Bank Pine City Business Loans > Excavation Work Loan | ||||
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Pine City, Minnesota SBA Banks
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Pine City, Minnesota Bank Gives SBA Loan to Excavation Work CompanyWant to talk with a Pine City, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Pine City bank, that was approved by the SBA. Applying for an SBA loan with Horizon Bank worked out well for our friends at one local firm in Stacy, Minnesota. They received an SBA loan for $95,000. Nice! SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender HORIZON BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 5/14/2002 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $80,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Role of Business Plan When Raising Money SBA 7A Lenders in Pine City, Minnesota
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