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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > General Automotive Repair Loan | ||||
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Banks in Saint Paul, Minnesota That Make SBA Loans
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Saint Paul, Minnesota Lender Lends Money to General Automotive Repair CompanyWant to talk with a Saint Paul, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA. Applying for an SBA loan with Park Midway Bank worked out well for our friends at one local company in Albertville, Minnesota. The business was able to get an SBA loan for $908,800. Sweet! SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender PARK MIDWAY BANK 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 811111 - General Automotive Repair Loan Approval Date 5/2/2006 Loan Approval Gross Amount $908,800 Loan Approval from the SBA Of the total $908,800 loan amount, the SBA guaranteed $681,600. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Saint Paul, Minnesota
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