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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > General Automotive Repair Loan | ||||
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California Small Business Funding
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Where to Get Capital for General Automotive RepairWith 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 $33,000 was given to a California entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Covina, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Citibank, based in Las Vegas, Nevada. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CITIBANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811111 - General Automotive Repair Loan Approval Date 4/6/2007 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $16,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. We can help you find the best banks for small businesses in Covina or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA 7A Banks for Las Vegas, Nevada Loans
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