Borrowing Money for Motor Vehicle Dealers

Looking for bank loans for motor vehicle dealers? Talk to a banker who works with the SBA. This $75,000 motor vehicle dealers loan was issued by a Minnesota bank.

Getting a small business loan in St. Cloud, Minnesota was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bankvista, operating out of Sartell, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
ST. CLOUD, MN 56301

SBA Loan Lender

BANKVISTA
125 TWIN RIVERS CT
SARTELL, MN 56377

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

441229 - Motor Vehicle Dealers

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bankvista so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

The Friends and Family Network

Best Banks in Sartell, Minnesota

SBA Lenders in Minnesota