How to Get a Loan for Automotive Repair and Maintenance

With these commercial loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $35,000 was given to a Montana entrepreneur in 2000.

Getting a small business loan in Billings, Montana was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Cit. Bank - Billings, operating out of Billings, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
BILLINGS, MT 59101

SBA Loan Lender

FIRST CIT. BANK - BILLINGS
2812 1ST AVE NORTH
BILLINGS, MT 59101

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

11/16/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $28,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $35,000 loan. Remember, anyone can do it... so why not you?

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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