Financing for Automotive Mechanical and Electrical Repair and Maintenance

Looking for loans for automotive mechanical and electrical repair and maintenance? The SBA may be the answer. This $84,000 automotive mechanical and electrical repair and maintenance loan was issued by an Illinois bank.

This company knew how to go about getting a business bank loan. Based in Godfrey, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Associated Bank, based in Fairview Heights, Illinois.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
GODFREY, IL 62035

SBA Loan Lender

ASSOCIATED BANK
6550 N ILLINOIS ST
FAIRVIEW HEIGHTS, IL 62208

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

2/7/2001

Loan Approval Gross Amount

$84,000

Loan Approval from the SBA

Of the total $84,000 loan amount, the SBA guaranteed $71,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Raising VC Money for Social Networking Companies

Good Banks for Small Business in Fairview Heights, Illinois

SBA Participating Banks in Illinois