Midwest Bank Provides SBA Loan to Buy Napa Auto Parts Franchise

Need money to purchase a Napa Auto Parts franchise? Midwest Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Napa Auto Parts franchise? If so, here's a 2004 SBA franchise loan that you should know about. Midwest Bank was the lender and the entrepreneur was based in Parkers Prairie, Minnesota.

SBA Loan Borrower

NAPA AUTO PARTS
PARKERS PRAIRIE, MN 56361

SBA Loan Lender

MIDWEST BANK
105 E SOO ST
PARKERS PRAIRIE, MN 56361

This lender issued this particular 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.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Napa Auto Parts franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? 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:

NAPA Auto Parts

Microlending as a Small Business Funding Source

SBA 7A Banks in Parkers Prairie, Minnesota

Getting an SBA Loan in Minnesota