General Automotive Repair Small Business Loans

With these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $34,000 was given to an Iowa entrepreneur in 2004.

Getting a small business loan in Cedar Rapids, Iowa was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Collins Community Cu, operating out of Cedar Rapids, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
CEDAR RAPIDS, IA 52405

SBA Loan Lender

COLLINS COMMUNITY CU
1150 42ND ST NE
CEDAR RAPIDS, IA 52402

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$34,000

Loan Approval from the SBA

Of the total $34,000 loan amount, the SBA guaranteed $28,900.

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. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Collins Community Cu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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Small Bank Loans in Cedar Rapids, Iowa

Iowa SBA Banks