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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hinckley, Business Loans > Woodlands National Bank Hinckley Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Woodlands National Bank
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Business Loan from Woodlands National Bank Given to Automotive Parts And Accessories Stores CompanyWoodlands National Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Duluth, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Woodlands National Bank, based in Hinckley, Minnesota. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender WOODLANDS NATIONAL BANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 9/6/2007 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Hinckley, Minnesota Banks for Small Business
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