Ashby, Minnesota Lender Lends Money to General Automotive Repair Company

Thinking about meeting with an Ashby, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by an Ashby bank, that was approved by the SBA.

Applying for an SBA loan with First State Bank Of Ashby worked out well for our friends at one local company in Evansville, Minnesota. The business was able to get an SBA loan for $40,000. Great job!

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
EVANSVILLE, MN 56326

SBA Loan Lender

FIRST STATE BANK OF ASHBY
110 MAIN ST
ASHBY, MN 56309

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

9/14/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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