How to Get a Loan for Automotive Exhaust System Repair

With these business loans for automotive exhaust system repair, the SBA guarantees the lender that the loan will be repaid. This automotive exhaust system repair loan for $120,000 was given to a Minnesota entrepreneur in 2000.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Security State Bank Of Hibbing, out of Hibbing, Minnesota. The loan was granted and they received $120,000 to help grow their Hibbing, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SHOPS
HIBBING, MN 55746

SBA Loan Lender

SECURITY STATE BANK OF HIBBING
701 E HOWARD ST
HIBBING, MN 55746

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7533 - Automotive Exhaust System Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

6/20/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Security State Bank Of Hibbing 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.

Related Links:

Small Business Loan

Banks in Hibbing, Minnesota

SBA Minnesota Lenders