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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Gilbert, Business Loans > First National Bank Of Gilbert Gilbert Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Gilbert, Minnesota Lender Lends Money to Automotive Parts And Accessories Stores CompanyThinking about meeting with a Gilbert, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Gilbert bank, that was approved by the SBA. Applying for an SBA loan with First National Bank Of Gilbert worked out well for our friends at one local company in Virginia, Minnesota. The business was able to get an SBA loan for $265,000. Awesome! SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender FIRST NATIONAL BANK OF GILBERT 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. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 11/13/2001 Loan Approval Gross Amount $265,000 Loan Approval from the SBA Of the total $265,000 loan amount, the SBA guaranteed $198,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank Of Gilbert and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Decide How Much to Raise Good Banks for Small Business in Gilbert, Minnesota
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