Where to Get Capital for Automotive Repair and Maintenance

Looking for SBA loans for automotive repair and maintenance? Try the SBA. This $30,000 automotive repair and maintenance loan was issued by a bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hato Rey, was able to borrow $30,000 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $25,500 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS
HATO REY, PR 00918

SBA Loan Lender

BANCO SANTANDER PUERTO RICO
AVE PONCE DE LEON 207
HATO REY, PR 00918

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

1/11/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 10 employees. This SBA loan request did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Banco Santander Puerto Rico so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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