Automotive Repair and Maintenance Loans

Looking for loans for automotive repair and maintenance? An SBA loan may be just what you've been looking for. This $736,000 automotive repair and maintenance loan was issued by a Washington bank.

Getting a small business loan in Edmonds, Washington was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Prime Pacific Bank, Na, operating out of Lynnwood, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
EDMONDS, WA 98026

SBA Loan Lender

PRIME PACIFIC BANK, NA
4710 196TH ST SW
LYNNWOOD, WA 98036

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

7/18/2002

Loan Approval Gross Amount

$736,000

Loan Approval from the SBA

Of the total $736,000 loan amount, the SBA guaranteed $552,000.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Prime Pacific Bank, Na and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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