How to Get a Loan for General Automotive Repair

With these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $63,000 was given to a Minnesota entrepreneur in 2000.

Getting a small business loan in Granite Falls, Minnesota was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Citizens St. Bank - Clara City, operating out of Granite Falls, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
GRANITE FALLS, MN 56241

SBA Loan Lender

CITIZENS ST. BANK - CLARA CITY
180 8TH AVE
GRANITE FALLS, MN 56241

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/7/2000

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $50,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Granite Falls, Minnesota

SBA Lenders in Minnesota