Financing for General Automotive Repair

Looking for commercial loans for general automotive repair? The SBA may be the answer. This $54,600 general automotive repair loan was issued by a Florida bank.

This business knew how to go about getting a business bank loan. Based in Brandon, Florida, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Orlando National Bank, based in Longwood, Florida.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
BRANDON, FL 33511

SBA Loan Lender

ORLANDO NATIONAL BANK
502 N HWY 17-92
LONGWOOD, FL 32750

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

12/18/2001

Loan Approval Gross Amount

$54,600

Loan Approval from the SBA

Of the total $54,600 loan amount, the SBA guaranteed $46,410.

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 2 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for 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.

Related Links:

Choosing VC Firms

Who Lends Money to Small Businesses in Longwood, Florida

Florida SBA 7A Banks