MTL Companies
MTL Companies is located in Brooklyn Park, MN, and the SBA lists its industry as General Freight Trucking, Local. It was approved for an SBA 504 loan ($4,394,000 SBA portion) on October 30, 2023 to finance real estate or equipment.
SBA 504 loan, approved Oct 30, 2023
- SBA (CDC) portion
- $4,394,000
- Bank portion
- $5,372,500
- Estimated project size
- $10,851,667 (estimated)
- Estimated owner equity
- $1,085,167 (estimated, about 10% of the project)
- Bank lender
- 21st Century Bank, Loretto, MN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- October 30, 2048 (estimated, approval date plus term)
- First disbursement
- Sep 11, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 25
- Business type
- Corporation
- NAICS
- 484110, General Freight Trucking, Local
- Project location
- Hennepin County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-3
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Larger than 85% of expansion loans in General Freight Trucking, Local on this site.
- Average expansion loan in General Freight Trucking, Local: $2,373,915.
- Average expansion loan in Minnesota: $2,136,981.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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Same industry in Minnesota
- T-Brothers Logistics, L.L.C., Eagan
- Kessel Runners Inc., Duluth
- Two Men and a Truck, Plymouth
- Volk Properties LLC, Mankato