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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Kasson, Business Loans > Eastwood Bank Kasson Business Loans > General Automotive Repair Loan | ||||
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Kasson Bank Loan
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Kasson, Minnesota Lender Lends Money to General Automotive Repair CompanyA Kasson, Minnesota small business loan can be yours. Learn how one firm got a $78,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Eastwood Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender EASTWOOD BANK 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 811111 - General Automotive Repair Loan Approval Date 10/20/2005 Loan Approval Gross Amount $78,000 Loan Approval from the SBA Of the total $78,000 loan amount, the SBA guaranteed $39,000. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Eastwood Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Eastwood 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: Who Lends Money to Small Businesses in Kasson, Minnesota Getting a Business Loan in Minnesota
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