SBA Loans for General Automotive Repair

Looking for SBA loans for general automotive repair? An SBA loan may be just what you've been looking for. This $28,500 general automotive repair loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with American Bank Of The North, out of Nashwauk, Minnesota. The loan was granted and they received $28,500 to help grow their Ely, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ELY, MN 55731

SBA Loan Lender

AMERICAN BANK OF THE NORTH
117 CENTRAL AVE
NASHWAUK, MN 55769

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811111 - General Automotive Repair

Loan Approval Date

8/31/2007

Loan Approval Gross Amount

$28,500

Loan Approval from the SBA

Of the total $28,500 loan amount, the SBA guaranteed $14,250.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? 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:

Small Business Loan

Good Banks for Small Business in Nashwauk, Minnesota

Minnesota SBA 7A Banks