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Minnesota Automotive

Raised to Date: 
$1,000

1%
Funded:
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ID: 
MNAUTO-SCOR
Exemption: 
SCOR
Issue Type: 
Equity
Accredited Only: 
No
Reviewed Financials: 
No
Minimum Investment: 
$1,000
Suggested Investment: 
$5,000
Additional Investments: 
$1,000
Target Goal: 
$600,000
Minimum Goal: 
$450,000
Maximum Goal: 
$1,000,000
Raise Start Date: 
Saturday, August 15, 2020
Raise End Date: 
Sunday, August 15, 2021
Raise Target Date: 
Tuesday, December 15, 2020
Presentation: 
Balance Sheet: 
Income Statement: 
Compiled PPM: 

Minnesota Automotive Inc. has been providing quality car care in Coon Rapids, Minnesota since acquiring Mike’s Tire One in 2019.

We are a family-owned business delivering honest and professional automotive repair and maintenance services to the people of Coon Rapids and the surrounding areas of the Twin Cities.

The Company will use the first $450,000.00 of proceeds from this offering to pay certain indebtedness, namely (1) the Company’s SBA loan with 21st Century Bank (having a current balance of $323,932.50), (2) a $36,000.00 loan from Mike Melberg, former owner of the business, pursuant to the parties’ purchase agreement for the business, and (3) $39,000.00 to Hank Borg as and for repayment of a "gap loan" used for the Company’s down payment to acquire the business.

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