Getting an SBA Loan for Automotive Body, Paint, and Interior Repair and Maintenance

Looking for SBA loans for automotive body, paint, and interior repair and maintenance? An SBA loan may be just what you've been looking for. This $589,000 automotive body, paint, and interior repair and maintenance loan was issued by a California bank.

Getting a small business loan in Gilroy, California was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Community Bank - Cent. Californi, operating out of Salinas, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
GILROY, CA 95020

SBA Loan Lender

COMMUNITY BANK - CENT. CALIFORNI
1285 N DAVIS RD
SALINAS, CA 93907

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program is designed to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

9/27/2001

Loan Approval Gross Amount

$589,000

Loan Approval from the SBA

Of the total $589,000 loan amount, the SBA guaranteed $441,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

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Where to Get an SBA Loan California