Commercial Loans for General Automotive Repair

Looking for commercial loans for general automotive repair? Talk to a banker who works with the SBA. This $76,000 general automotive repair loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waubun, Minnesota was able to borrow $76,000 from Northwestern Bank. The SBA made the loan possible by guaranteeing $64,600 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
WAUBUN, MN 56589

SBA Loan Lender

NORTHWESTERN BANK
2405 S 8TH ST
MOORHEAD, MN 56560

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$76,000

Loan Approval from the SBA

Of the total $76,000 loan amount, the SBA guaranteed $64,600.

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 5 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

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

If you need business start up money in Waubun MN, you ought to talk with a local Waubun SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Waubun businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Cash Advances

SBA Participating Banks in Moorhead, Minnesota

Find an SBA Lender in Minnesota