Business Loans for General Automotive Repair

Looking for business loans for general automotive repair? Try the SBA. This $120,000 general automotive repair loan was issued by a Minnesota bank.

Getting a small business loan in Ottertail (corporate Name For, Minnesota was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Henning, operating out of Ottertail, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
OTTERTAIL (CORPORATE NAME FOR, MN 56571

SBA Loan Lender

1ST NATIONAL BANK - HENNING
239 MN HWY 78N
OTTERTAIL, MN 56571

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

1/3/2006

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Ottertail (corporate Name For MN, you ought to talk with a local Ottertail (corporate Name For SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ottertail (corporate Name For businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Small Business Loan

SBA Banks in Ottertail, Minnesota

Where to Get an SBA Loan Minnesota