SBA Loan from Eastwood Bank Helps General Automotive Repair Company

An SBA loan from Eastwood Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eyota, Minnesota business owner got a $96,700 loan.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Eastwood Bank, out of Kasson, Minnesota. The loan was granted and they received $96,700 to help grow their Eyota, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
EYOTA, MN 55934

SBA Loan Lender

EASTWOOD BANK
109 S MANTORVILLE AVE
KASSON, MN 55944

The lender provided this SBA 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

5/8/2006

Loan Approval Gross Amount

$96,700

Loan Approval from the SBA

Of the total $96,700 loan amount, the SBA guaranteed $48,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $96,700. How would you spend $96,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Dealing With Venture Capitalists

Good Banks for Small Business in Kasson, Minnesota

Getting an SBA Loan in Minnesota