Where to Get Capital for Tire Dealers

With these small business loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $1,320,400 was given to a Minnesota entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Champlin, Minnesota was able to borrow $1,320,400 from Park Midway Bank. The SBA made the loan possible by guaranteeing $990,300 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
CHAMPLIN, MN 55316

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$1,320,400

Loan Approval from the SBA

Of the total $1,320,400 loan amount, the SBA guaranteed $990,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 24 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Champlin MN, you ought to talk with a local Champlin SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Champlin businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Loan

Small Business Banks in Saint Paul, Minnesota

SBA Lenders in Minnesota