Financing for General Automotive Repair

Looking for commercial loans for general automotive repair? Try the SBA. This $50,000 general automotive repair loan was issued by a Virginia bank.

This business knew how to go about getting a business bank loan. Based in Humble, Texas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Capital One Bank (usa), based in Glen Allen, Virginia.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
HUMBLE, TX 77346

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

10/4/2007

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan documents indicated that the loan would help retain 11 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Humble TX, you ought to talk with a local Humble SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Humble businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Capital One Bank (usa) had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Capital One Bank (usa) 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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