How to Get a Loan for Automotive Body, Paint, and Interior Repair and Maintenance
Looking for business loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $140,000 automotive body, paint, and interior repair and maintenance loan was issued by an Arkansas bank.
Getting a small business loan in Conway, Arkansas was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First State Bank, operating out of Conway, Arkansas. Here are the details on this Arkansas small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
CONWAY, AR 72032
SBA Loan Lender
FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
5/4/2004
Loan Approval Gross Amount
$140,000
Loan Approval from the SBA
Of the total $140,000 loan amount, the SBA guaranteed $119,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Obtaining Funding From a Venture Capitalist
SBA Approved Banks in Conway, Arkansas
Getting an SBA Loan in Arkansas