SBA Loans for Personal and Household Goods Repair and Maintenance

With these SBA loans for personal and household goods repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This personal and household goods repair and maintenance loan for $24,000 was given to a Minnesota entrepreneur in 2002.

Getting a small business loan in Duluth, Minnesota was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from North Shore Bank Of Commerce, operating out of Duluth, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING AND REPAIRING
DULUTH, MN 55802

SBA Loan Lender

NORTH SHORE BANK OF COMMERCE
131 W SUPERIOR ST
DULUTH, MN 55802

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3732 - Boat Building and Repairing

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

3/28/2002

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $20,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like North Shore Bank Of Commerce are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Duluth, Minnesota

Getting a Business Loan in Minnesota