Business Loans for Automotive Repair and Maintenance

Looking for business loans for automotive repair and maintenance? Try the SBA. This $124,400 automotive repair and maintenance loan was issued by a Hawaii bank.

This business knew how to go about getting a business bank loan. Based in Aiea, Hawaii, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was American Savings Bank, Fsb, based in Honolulu, Hawaii.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
AIEA, HI 96701

SBA Loan Lender

AMERICAN SAVINGS BANK, FSB
915 FORT STREET MALL, FINANCI
HONOLULU, HI 96813

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$124,400

Loan Approval from the SBA

Of the total $124,400 loan amount, the SBA guaranteed $105,740.

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 3 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

How Equity Dilution Works

Find an SBA Lender in Honolulu, Hawaii

SBA Participating Banks in Hawaii