Bank Loans 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 $108,000 was given to a Kentucky entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Bowling Green, Kentucky, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Citizens First Bank, Inc., based in Bowling Green, Kentucky.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
BOWLING GREEN, KY 42103

SBA Loan Lender

CITIZENS FIRST BANK, INC.
987 LEHMAN AVE
BOWLING GREEN, KY 42101

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves 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

7549 - Automotive Services

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/17/2000

Loan Approval Gross Amount

$108,000

Loan Approval from the SBA

Of the total $108,000 loan amount, the SBA guaranteed $81,000.

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 6 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Bowling Green KY, you ought to talk with a local Bowling Green SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bowling Green businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Angel Investors

Find an SBA Lender in Bowling Green, Kentucky

Kentucky SBA 7A Banks