General Automotive Repair Commercial Loans

Looking for commercial loans for general automotive repair? Try the SBA. This $350,000 general automotive repair loan was issued by a Delaware bank.

This small business knew how to go about getting a business bank loan. Based in Decatur, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Lehman Brothers Bank, Fsb, based in Wilmington, Delaware.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
DECATUR, GA 30035

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

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

8/12/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you need business start up money in Decatur GA, you ought to talk with a local Decatur SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Decatur businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lehman Brothers Bank, Fsb 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:

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Who Lends Money to Small Businesses in Wilmington, Delaware

SBA Delaware Banks