Bank Loans for Automotive Repair and Maintenance
Looking for bank loans for automotive repair and maintenance? Talk to a banker who works with the SBA. This $117,000 automotive repair and maintenance loan was issued by a California bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Encino, California was able to borrow $117,000 from First Private Bank & Trust. The SBA made the loan possible by guaranteeing $99,450 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
ENCINO, CA 91436
SBA Loan Lender
FIRST PRIVATE BANK & TRUST
16000 VENTURA BLVD
ENCINO, CA 91436
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811198 - Automotive Repair and Maintenance
Loan Approval Date
9/29/2005
Loan Approval Gross Amount
$117,000
Loan Approval from the SBA
Of the total $117,000 loan amount, the SBA guaranteed $99,450.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 2 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Bank Credit Lines
Banks in Encino, California
Browse All Business Loan Sources for California