Loans for Automotive Repair and Maintenance

Looking for loans for automotive repair and maintenance? The SBA may be the answer. This $489,500 automotive repair and maintenance loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Umpqua Bank, out of Roseville, California. The loan was granted and they received $489,500 to help grow their French Camp, California business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
FRENCH CAMP, CA 95213

SBA Loan Lender

UMPQUA BANK
2998 DOUGLAS BLVD, STE 100
ROSEVILLE, CA 95678

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

12/27/2000

Loan Approval Gross Amount

$489,500

Loan Approval from the SBA

Of the total $489,500 loan amount, the SBA guaranteed $367,125.

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 6 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Umpqua Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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