Used Car Dealers Commercial Loans

Looking for commercial loans for used car dealers? The SBA may be the answer. This $154,000 used car dealers loan was issued by a Minnesota bank.

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

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
EXCELSIOR, MN 55331

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$154,000

Loan Approval from the SBA

Of the total $154,000 loan amount, the SBA guaranteed $115,500.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Getting a Small Business Loan

Best Banks in Minneapolis, Minnesota

SBA Lenders in Minnesota