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December 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > New York Mills, Business Loans > Farmers & Merchants St. Bank - N New York Mills Business Loans > General Automotive Repair Loan | ||||
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Milaca, Minnesota Bank for SBA Loans
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General Automotive Repair SBA LoansLooking for SBA loans for general automotive repair? Try the SBA. This $60,000 general automotive repair loan was issued by a Minnesota bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Farmers & Merchants St. Bank - N, out of New York Mills, Minnesota. The loan was granted and they received $60,000 to help grow their Milaca, Minnesota business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FARMERS & MERCHANTS ST. BANK - N The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/13/2007 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 2 new jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Determining Proper Capital Structure for a Business SBA Participating Banks in New York Mills, Minnesota
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