Loans for General Automotive Repair

Looking for loans for general automotive repair? Try the SBA. This $360,000 general automotive repair loan was issued by a Minnesota bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Amer National Bank - Minnesota, out of Pequot Lakes, Minnesota. The loan was granted and they received $360,000 to help grow their Pequot Lakes, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
PEQUOT LAKES, MN 56472

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
31279 BRUNES ST
PEQUOT LAKES, MN 56472

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/2/2002

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Amer National Bank - Minnesota had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Amer National Bank - Minnesota made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Pequot Lakes, Minnesota

SBA Minnesota Banks