Loans for General Automotive Repair

Looking for loans for general automotive repair? Talk to a banker who works with the SBA. This $136,880 general automotive repair loan was issued by a Minnesota bank.

Getting a small business loan in Starbuck, Minnesota was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First State Bank Of Kensington, operating out of Kensington, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
STARBUCK, MN 56381

SBA Loan Lender

FIRST STATE BANK OF KENSINGTON
11 N CENTRAL AVE
KENSINGTON, MN 56343

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/27/2005

Loan Approval Gross Amount

$136,880

Loan Approval from the SBA

Of the total $136,880 loan amount, the SBA guaranteed $116,348.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Starbuck or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Good Banks for Small Business in Kensington, Minnesota

Where to Get an SBA Loan Minnesota