Automotive Repair and Maintenance Loans

Looking for loans for automotive repair and maintenance? Talk to a banker who works with the SBA. This $49,800 automotive repair and maintenance loan was issued by a Nebraska bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Island, Nebraska was able to borrow $49,800 from Heritage Bank. The SBA made the loan possible by guaranteeing $42,330 of this Nebraska small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS
GRAND ISLAND, NE 68832

SBA Loan Lender

HERITAGE BANK
605 6TH ST
DONIPHAN, NE 68832

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7534 - Tire Retreading and Repair Shops

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

2/24/2006

Loan Approval Gross Amount

$49,800

Loan Approval from the SBA

Of the total $49,800 loan amount, the SBA guaranteed $42,330.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

We can help you find the best banks for small businesses in Grand Island or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How Equity Dilution Works

Find an SBA Lender in Doniphan, Nebraska

Getting an SBA Loan in Nebraska