Getting an SBA Loan for General Automotive Repair

With these SBA loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $260,000 was given to a Michigan entrepreneur in 2007.

Getting a small business loan in Grand Rapids, Michigan was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Byron Bank, operating out of Byron Center, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
GRAND RAPIDS, MI 49548

SBA Loan Lender

BYRON BANK
2445 84TH ST SW
BYRON CENTER, MI 49315

This SBA 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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/20/2007

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 documents indicated that the borrowed money would help create 2 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Grand Rapids MI, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

The Friends and Family Network

Banks in Byron Center, Michigan

Michigan SBA 7A Lenders