General Automotive Repair Business Loans

With these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $676,000 was given to a California entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Glendale, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was National Bank Of California, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
GLENDALE, CA 91205

SBA Loan Lender

NATIONAL BANK OF CALIFORNIA
145 S FAIRFAX AVE
LOS ANGELES, CA 90036

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

12/13/2002

Loan Approval Gross Amount

$676,000

Loan Approval from the SBA

Of the total $676,000 loan amount, the SBA guaranteed $507,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Find Start-Up Capital

SBA Participating Banks in Los Angeles, California

California SBA Banks