Getting an SBA Loan for Motor Vehicle Air-Conditioning Manufacturing

With these business loans for motor vehicle air-conditioning manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle air-conditioning manufacturing loan for $216,300 was given to a Minnesota entrepreneur in 2004.

Getting a small business loan in Fairmont, Minnesota was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Welcome State Bank, operating out of Welcome, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE AIR-CONDITIONING MANUFACTURING
FAIRMONT, MN 56031

SBA Loan Lender

WELCOME STATE BANK
111 GUIDE ST NORTH
WELCOME, MN 56181

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

336391 - Motor Vehicle Air-Conditioning Manufacturing

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$216,300

Loan Approval from the SBA

Of the total $216,300 loan amount, the SBA guaranteed $108,150.

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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Welcome State Bank 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.

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