Citizens St. Bank - Hayfield SBA Loan to Automobiles And Other Motor Vehicles Company

An SBA loan from Citizens St. Bank - Hayfield typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hayfield, Minnesota business owner got a $150,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Citizens St. Bank - Hayfield, out of Hayfield, Minnesota. The loan was granted and they received $150,000 to help grow their Hayfield, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILES AND OTHER MOTOR VEHICLES
HAYFIELD, MN 55940

SBA Loan Lender

CITIZENS ST. BANK - HAYFIELD
216 1ST AVE NE
HAYFIELD, MN 55940

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5012 - Automobiles and Other Motor Vehicles

NAICS Code

421110 - Automobile and Motor Vehicle Wholesalers

Loan Approval Date

5/3/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 3 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Hayfield, Minnesota

Minnesota SBA 7A Lenders