Automotive Repair and Maintenance Small Business Loans

With these small business loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $224,000 was given to an Illinois entrepreneur in 2003.

This company knew how to go about getting a business bank loan. Based in Downers Grove, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Fifth Third Bank, based in Geneva, Illinois.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
DOWNERS GROVE, IL 60516

SBA Loan Lender

FIFTH THIRD BANK
629 W STATE ST
GENEVA, IL 60134

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

7/25/2003

Loan Approval Gross Amount

$224,000

Loan Approval from the SBA

Of the total $224,000 loan amount, the SBA guaranteed $168,000.

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 5 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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 Fifth Third Bank 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.

Related Links:

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Where to Get an SBA Loan in Geneva, Illinois

Getting an SBA Loan in Illinois