Raising Money for Used Car Dealers

With these business loans for used car dealers, the SBA guarantees the lender that the loan will be repaid. This used car dealers loan for $45,000 was given to a Minnesota entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Eastwood Bank, out of Kasson, Minnesota. The loan was granted and they received $45,000 to help grow their Stewartville, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
STEWARTVILLE, MN 55976

SBA Loan Lender

EASTWOOD BANK
109 S MANTORVILLE AVE
KASSON, MN 55944

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

441120 - Used Car Dealers

Loan Approval Date

5/8/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the funding would help generate 1 new job.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $45,000. How would you spend $45,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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