Where to Get Capital for Automotive Parts and Accessories Stores

With these small business loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $50,000 was given to a Minnesota entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Ham Lake, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Community Pride Bank, based in Isanti, Minnesota.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
HAM LAKE, MN 55304

SBA Loan Lender

COMMUNITY PRIDE BANK
901 NICKLAUS COURT
ISANTI, MN 55040

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/9/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 10 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Ham Lake MN, you ought to talk with a local Ham Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ham Lake businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community Pride Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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