General Automotive Repair Small Business Loans

Looking for small business loans for general automotive repair? The SBA may be the answer. This $68,700 general automotive repair loan was issued by a North Dakota bank.

This company knew how to go about getting a business bank loan. Based in Moorhead, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Alerus Financial, based in Grand Forks, North Dakota.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
MOORHEAD, MN 56560

SBA Loan Lender

ALERUS FINANCIAL
401 DEMERS AVE
GRAND FORKS, ND 58201

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

12/5/2005

Loan Approval Gross Amount

$68,700

Loan Approval from the SBA

Of the total $68,700 loan amount, the SBA guaranteed $34,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

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

If you are wondering how to raise money for a business in Moorhead MN, you ought to talk with a local Moorhead SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Moorhead businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Grand Forks, North Dakota Loans

SBA North Dakota Banks