Financing for General Automotive Repair

Looking for loans for general automotive repair? Talk to a banker who works with the SBA. This $50,000 general automotive repair loan was issued by a Washington bank.

This small firm knew how to go about getting a business bank loan. Based in Dayton, Washington, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Bank Of Whitman, based in Colfax, Washington.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
DAYTON, WA 99328

SBA Loan Lender

BANK OF WHITMAN
201 S MAIN ST
COLFAX, WA 99111

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

5/6/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of Whitman and they will explain how you can get an SBA loan for your company.

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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