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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > General Automotive Repair Loan | ||||
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Minnetonka, Minnesota Bank Loan
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General Automotive Repair Small Business LoansLooking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $400,000 general automotive repair loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minnetonka, Minnesota was able to borrow $400,000 from Anchor Bank. The SBA made the loan possible by guaranteeing $300,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender ANCHOR BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/15/2003 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 7 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. We can help you find the best banks for small businesses in Minnetonka 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in Wayzata, Minnesota
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