Business Loans for General Automotive Repair

Looking for business loans for general automotive repair? Try the SBA. This $31,985 general automotive repair loan was issued by an Ohio bank.

Getting a small business loan in Alger, Ohio was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Liberty National Bank, operating out of Kenton, Ohio. Here are the details on this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
ALGER, OH 45812

SBA Loan Lender

LIBERTY NATIONAL BANK
100 E FRANKLIN ST
KENTON, OH 43326

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/28/2001

Loan Approval Gross Amount

$31,985

Loan Approval from the SBA

Of the total $31,985 loan amount, the SBA guaranteed $27,187.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $31,985. How would you spend $31,985 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Choosing VC Firms

Who Lends Money to Small Businesses in Kenton, Ohio

Ohio SBA 7A Banks