Raising Money for General Automotive Repair

With these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $72,500 was given to a Montana entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Interstate Bank, out of Livingston, Montana. The loan was granted and they received $72,500 to help grow their Gardiner, Montana business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
GARDINER, MT 59030

SBA Loan Lender

FIRST INTERSTATE BANK
2ND & CALLENDER STS
LIVINGSTON, MT 59047

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/22/2001

Loan Approval Gross Amount

$72,500

Loan Approval from the SBA

Of the total $72,500 loan amount, the SBA guaranteed $61,625.

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 documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $72,500. How would you spend $72,500 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.

Related Links:

Famous Venture Capitalists

Find an SBA Lender in Livingston, Montana

SBA Montana Banks