Automotive Parts and Accessories Stores SBA Loans

Looking for SBA loans for automotive parts and accessories stores? The SBA may be the answer. This $440,000 automotive parts and accessories stores loan was issued by a Minnesota bank.

Getting a small business loan in Onamia, Minnesota was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Woodlands National Bank, operating out of Onamia, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
ONAMIA, MN 56359

SBA Loan Lender

WOODLANDS NATIONAL BANK
424 E MAIN ST
ONAMIA, MN 56359

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

2/20/2002

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Onamia MN, you ought to talk with a local Onamia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Onamia businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Woodlands National Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 - Getting Venture Capital

Who Lends Money to Small Businesses in Onamia, Minnesota

Where to Get an SBA Loan Minnesota