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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Kensington, Business Loans > First State Bank Of Kensington Kensington Business Loans > General Automotive Repair Loan | ||||
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Minnesota Small Business Funding
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General Automotive Repair Bank LoansLooking for bank loans for general automotive repair? The SBA may be the answer. This $506,500 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 Alexandria, Minnesota was able to borrow $506,500 from First State Bank Of Kensington. The SBA made the loan possible by guaranteeing $379,875 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FIRST STATE BANK OF KENSINGTON SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 1/30/2004 Loan Approval Gross Amount $506,500 Loan Approval from the SBA Of the total $506,500 loan amount, the SBA guaranteed $379,875. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Participating Banks in Kensington, Minnesota Where to Get an SBA Loan Minnesota
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