Personal and Household Goods Repair and Maintenance Loans

Looking for loans for personal and household goods repair and maintenance? An SBA loan may be just what you've been looking for. This $155,000 personal and household goods repair and maintenance loan was issued by a Minnesota bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with 1st National Bank - Elk River, out of Elk River, Minnesota. The loan was granted and they received $155,000 to help grow their Princeton, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING AND REPAIRING
PRINCETON, MN 55371

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
729 MAIN ST
ELK RIVER, MN 55330

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3732 - Boat Building and Repairing

NAICS Code

811490 - Personal and Household Goods Repair and Maintenance

Loan Approval Date

11/30/2000

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

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 3 employees. The SBA loan application for the borrower 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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st National Bank - Elk River and they will explain how you can get an SBA loan for your company.

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:

How Equity Dilution Works

SBA Participating Banks in Elk River, Minnesota

Getting an SBA Loan in Minnesota