Loan to Buy Carstar Automotive Franchise Issued By Centerbank

Borrowing money to purchase a Carstar Automotive franchise? Centerbank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Carstar Automotive franchise? If so, here's a 2002 SBA franchise loan that you should know about. Centerbank was the lender and the entrepreneur was based in Cincinnati, Ohio.

SBA Loan Borrower

JERRY'S AUTO BODY INC.
CINCINNATI, OH 45245

SBA Loan Lender

CENTERBANK
744 STATE RTE 28
MILFORD, OH 45150

This business loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

4/1/2002

Loan Approval Gross Amount

$1,025,000

Loan Approval from the SBA

Of the total $1,025,000 loan amount, the SBA guaranteed $768,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Carstar Automotive franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,025,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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Carstar Automotive

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Where to Get an SBA Loan in Milford, Ohio

Ohio SBA Bank Lenders