Financing for General Automotive Repair

Looking for loans for general automotive repair? Try the SBA. This $50,000 general automotive repair loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Finley, North Dakota was able to borrow $50,000 from Cit. St. Bank - Finley. The SBA made the loan possible by guaranteeing $42,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
FINLEY, ND 58230

SBA Loan Lender

CIT. ST. BANK - FINLEY
300 CENTRAL AVE
FINLEY, ND 58230

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/6/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Finley ND, you ought to talk with a local Finley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Finley businesses.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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