General Automotive Repair SBA Loans
Looking for SBA loans for general automotive repair? Try the SBA. This $50,000 general automotive repair loan was issued by a Virginia bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hialeah, Florida was able to borrow $50,000 from Capital One Bank (usa). The SBA made the loan possible by guaranteeing $25,000 of this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
HIALEAH, FL 33013
SBA Loan Lender
CAPITAL ONE BANK (USA)
4851 COX RD
GLEN ALLEN, VA 23060
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
11/13/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One Bank (usa) and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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