Getting an SBA Loan for Automotive Parts and Accessories Stores

With these SBA loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $226,500 was given to a Wisconsin entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomer, Wisconsin was able to borrow $226,500 from Boundary Waters Bank. The SBA made the loan possible by guaranteeing $169,875 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE AND APPAREL TRIMMINGS
BLOOMER, WI 54724

SBA Loan Lender

BOUNDARY WATERS BANK
11800 ABERDEEN ST, STE 120
BLAINE, MN 55449

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2396 - Automotive and Apparel Trimmings

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$226,500

Loan Approval from the SBA

Of the total $226,500 loan amount, the SBA guaranteed $169,875.

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 4 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Boundary Waters Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Boundary Waters Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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