Automotive Mechanical and Electrical Repair and Maintenance Business Loans
With these business loans for automotive mechanical and electrical repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive mechanical and electrical repair and maintenance loan for $145,000 was given to a Missouri entrepreneur in 2004.
This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Liberty Bank, out of Springfield, Missouri. The loan was granted and they received $145,000 to help grow their Fairplay, Missouri business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
FAIRPLAY, MO 65649
SBA Loan Lender
LIBERTY BANK
1414 E PRIMROSE
SPRINGFIELD, MO 65804
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7539 - Automotive Repair Shops
NAICS Code
811118 - Automotive Mechanical and Electrical Repair and Maintenance
Loan Approval Date
12/23/2004
Loan Approval Gross Amount
$145,000
Loan Approval from the SBA
Of the total $145,000 loan amount, the SBA guaranteed $123,250.
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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source
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:
Direct Public Offerings
SBA 7A Lenders in Springfield, Missouri
Missouri SBA 7A Banks