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May 8, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > General Automotive Repair Shops Loan | ||||
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I Need a Loan in Calumet, Michigan
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General Automotive Repair LoansLooking for loans for general automotive repair? The SBA may be the answer. This $74,400 general automotive repair loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wells Fargo Bank, out of Minneapolis, Minnesota. The loan was granted and they received $74,400 to help grow their Calumet, Michigan business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender WELLS FARGO BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 2/4/2002 Loan Approval Gross Amount $74,400 Loan Approval from the SBA Of the total $74,400 loan amount, the SBA guaranteed $63,240. 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 loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 7A Banks for Minneapolis, Minnesota Loans
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