Business Loans for Automotive Parts and Accessories Stores

Looking for business loans for automotive parts and accessories stores? Try the SBA. This $18,500 automotive parts and accessories stores loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Sioux Falls, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Stearns Bank, based in Saint Cloud, Minnesota.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
SIOUX FALLS, SD 57105

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$18,500

Loan Approval from the SBA

Of the total $18,500 loan amount, the SBA guaranteed $14,800.

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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Stearns Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Stearns Bank 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:

Bank Credit Lines

Where to Get an SBA Loan in Saint Cloud, Minnesota

SBA Lenders in Minnesota