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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Janesville, Business Loans > Janesville State Bank Janesville Business Loans > Motor Vehicle Supplies And New Parts Merchant Wholesalers Loan | ||||
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Raising Money in Janesville, Minnesota With SBA Loans
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Motor Vehicle Supplies and New Parts Merchant Wholesalers LoansLooking for loans for motor vehicle supplies and new parts merchant wholesalers? Try the SBA. This $62,000 motor vehicle supplies and new parts merchant wholesalers loan was issued by a Minnesota bank. Getting a small business loan in Janesville, Minnesota was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Janesville State Bank, operating out of Janesville, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS SBA Loan Lender JANESVILLE STATE BANK 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. NAICS Code 423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers Loan Approval Date 7/25/2005 Loan Approval Gross Amount $62,000 Loan Approval from the SBA Of the total $62,000 loan amount, the SBA guaranteed $52,700. 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 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Best Banks for Small Business in Janesville, Minnesota
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