SBA Loans 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 $271,700 was given to an Ohio entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Citizens Bank, out of Lansing, Michigan. The loan was granted and they received $271,700 to help grow their Grove City, Ohio business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
GROVE CITY, OH 43123

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/17/2006

Loan Approval Gross Amount

$271,700

Loan Approval from the SBA

Of the total $271,700 loan amount, the SBA guaranteed $203,775.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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