Financing for Automotive Body, Paint, and Interior Repair and Maintenance

Looking for commercial loans for automotive body, paint, and interior repair and maintenance? The SBA may be the answer. This $250,000 automotive body, paint, and interior repair and maintenance loan was issued by a Massachusetts bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Pentucket Bank, out of Haverhill, Massachusetts. The loan was granted and they received $250,000 to help grow their Haverhill, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
HAVERHILL, MA 01832

SBA Loan Lender

PENTUCKET BANK
ONE MERRIMACK ST
HAVERHILL, MA 01831

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Haverhill MA, you ought to talk with a local Haverhill SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Haverhill businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Pentucket Bank and they will explain how you can get an SBA loan for your company.

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:

Role of Business Plan When Raising Money

SBA Banks in Haverhill, Massachusetts

Massachusetts SBA Banks