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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eden Prairie, Business Loans > Voyager Bank Eden Prairie Business Loans > Motor Vehicle Dealers Loan | ||||
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Raising Money in Saint Paul, Minnesota With SBA Loans
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Voyager Bank Gives SBA Loan to Motor Vehicle Dealers CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in Saint Paul, Minnesota was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Voyager Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender VOYAGER BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5521 - Motor Vehicle Dealers NAICS Code 441120 - Used Car Dealers Loan Approval Date 5/31/2001 Loan Approval Gross Amount $178,000 Loan Approval from the SBA Of the total $178,000 loan amount, the SBA guaranteed $133,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Voyager Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Voyager Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options Banks in Eden Prairie, Minnesota Find an SBA Lender in Minnesota
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