Getting an SBA Loan for Motorcycle, ATV, and Personal Watercraft Dealers

Looking for commercial loans for motorcycle, atv, and personal watercraft dealers? The SBA may be the answer. This $215,000 motorcycle, atv, and personal watercraft dealers loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Melrose, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Freeport State Bank, based in Freeport, Minnesota.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
MELROSE, MN 16352

SBA Loan Lender

FREEPORT STATE BANK
111 MAIN ST EAST
FREEPORT, MN 56331

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

5/14/2007

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $215,000. How would you spend $215,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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Accountant's Role in Securing Financing

SBA Approved Banks in Freeport, Minnesota

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