Business Loan from North American Banking Company Given to Automotive Parts And Accessories Stores Company

An SBA loan from North American Banking Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rockford, Minnesota business owner got a $50,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Rockford, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was North American Banking Company, based in Roseville, Minnesota.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
ROCKFORD, MN 55373

SBA Loan Lender

NORTH AMERICAN BANKING COMPANY
2230 ALBERT ST NORTH
ROSEVILLE, MN 55113

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

8/8/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Rockford MN, you ought to talk with a local Rockford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rockford 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.

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SBA 7A Banks for Roseville, Minnesota Loans

Getting an SBA Loan in Minnesota