One Way Motors
One Way Motors is a used car dealer located in Burnsville, Minnesota, classified under NAICS code 441120 (Used Car Dealers). The business financed real estate or equipment through an SBA 504 loan of $1.343 million, approved on May 23, 2024, with Sterling State Bank as the partner lender and Twin Cities-Metro Certified Development Company as the certified development company.
SBA 504 loan, approved May 23, 2024
$1,343,000 SBA portionCDC: Twin Cities-Metro Certified Development Company25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,343,000
- Bank portion
- $1,640,500
- Estimated project size
- $3,315,000 (estimated)
- Estimated owner equity
- $331,500 (estimated, about 10% of the project)
- Bank lender
- Sterling State Bank, Austin, MN
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- May 23, 2049 (estimated, approval date plus term)
- First disbursement
- Aug 13, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 441120, Used Car Dealers
- Project location
- Dakota County, MN
- SBA district office
- Minnesota District Office
- Congressional district
- MN-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 37% of expansion loans in Used Car Dealers on this site.
- Average expansion loan in Used Car Dealers: $1,930,870.
- Average expansion loan in Minnesota: $2,136,981.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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