Getting an SBA Loan for Automotive Parts and Accessories Stores

Looking for commercial loans for automotive parts and accessories stores? An SBA loan may be just what you've been looking for. This $211,600 automotive parts and accessories stores loan was issued by a South Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greenville, South Carolina was able to borrow $211,600 from Bank Of Travelers Rest. The SBA made the loan possible by guaranteeing $158,700 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
GREENVILLE, SC 20607

SBA Loan Lender

BANK OF TRAVELERS REST
42 PLAZA DR
TRAVELERS REST, SC 29690

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/4/2008

Loan Approval Gross Amount

$211,600

Loan Approval from the SBA

Of the total $211,600 loan amount, the SBA guaranteed $158,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 26 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Travelers Rest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Travelers Rest made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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