Financing for General Automotive Repair

Looking for commercial loans for general automotive repair? The SBA may be the answer. This $163,000 general automotive repair loan was issued by a New Jersey bank.

This small business knew how to go about getting a business bank loan. Based in Edison, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Unity Bank, based in Clinton, New Jersey.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
Edison, NJ 08837

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/28/2007

Loan Approval Gross Amount

$163,000

Loan Approval from the SBA

Of the total $163,000 loan amount, the SBA guaranteed $122,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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