Borrowing Money for General Automotive Repair
With these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $150,000 was given to a Wisconsin entrepreneur in 2007.
This small firm knew how to go about getting a business bank loan. Based in Appleton, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Hometown Bank, based in Fond Du Lac, Wisconsin.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
APPLETON, WI 54913
SBA Loan Lender
HOMETOWN BANK
80 SHEBOYGAN ST
FOND DU LAC, WI 54935
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
7/2/2007
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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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