Get an SBA Loan for Automotive Body, Paint, and Interior Repair and Maintenance
Looking for bank loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $200,000 automotive body, paint, and interior repair and maintenance loan was issued by a Wisconsin bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brodhead, Wisconsin was able to borrow $200,000 from Anchorbank, Fsb. The SBA made the loan possible by guaranteeing $100,000 of this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
BRODHEAD, WI 53520
SBA Loan Lender
ANCHORBANK, FSB
25 W MAIN ST
MADISON, WI 53703
This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
5/11/2007
Loan Approval Gross Amount
$200,000
Loan Approval from the SBA
Of the total $200,000 loan amount, the SBA guaranteed $100,000.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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