Getting an SBA Loan for Automobile Driving Schools

With these commercial loans for automobile driving schools, the SBA guarantees the lender that the loan will be repaid. This automobile driving schools loan for $63,200 was given to an Ohio entrepreneur in 2005.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with National City Bank, out of Cleveland, Ohio. The loan was granted and they received $63,200 to help grow their Cuyahoga Falls, Ohio business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE DRIVING SCHOOLS
Cuyahoga Falls, OH 44223

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

611692 - Automobile Driving Schools

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$63,200

Loan Approval from the SBA

Of the total $63,200 loan amount, the SBA guaranteed $31,600.

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 18 employees. The SBA loan application for the borrower indicated that the loan would help retain 18 existing jobs.

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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