Financing for Automotive Mechanical and Electrical Repair and Maintenance

Looking for commercial loans for automotive mechanical and electrical repair and maintenance? Talk to a banker who works with the SBA. This $385,000 automotive mechanical and electrical repair and maintenance loan was issued by a Florida bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Cnlbank, out of Orlando, Florida. The loan was granted and they received $385,000 to help grow their Apopka, Florida business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
APOPKA, FL 32703

SBA Loan Lender

CNLBANK
450 S ORANGE AVE
ORLANDO, FL 32801

When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to give quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$385,000

Loan Approval from the SBA

Of the total $385,000 loan amount, the SBA guaranteed $288,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Cnlbank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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