Small Business Loans for General Automotive Repair

With 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 $266,400 was given to an Iowa entrepreneur in 2006.

Getting a small business loan in Des Moines, Iowa was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association, operating out of San Diego, California. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
DES MOINES, IA 50314

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
9918 HIBERT ST, STE 100
SAN DIEGO, CA 92131

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$266,400

Loan Approval from the SBA

Of the total $266,400 loan amount, the SBA guaranteed $199,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. U.S. Bank National Association had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, U.S. Bank National Association made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Alternative Financing

Banks in San Diego, California

SBA Participating Banks in California