Raising Money for Motor Vehicle Supplies and New Parts Wholesalers

Looking for business loans for motor vehicle supplies and new parts wholesalers? Talk to a banker who works with the SBA. This $405,500 motor vehicle supplies and new parts wholesalers loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $405,500 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $220,235 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS
MINNEAPOLIS, MN 55413

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421120 - Motor Vehicle Supplies and New Parts Wholesalers

Loan Approval Date

1/9/2003

Loan Approval Gross Amount

$405,500

Loan Approval from the SBA

Of the total $405,500 loan amount, the SBA guaranteed $220,235.

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 35 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Minneapolis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Alternative Financing

SBA 7A Banks in Cincinnati, Ohio

SBA Participating Banks in Ohio