Get an SBA Loan for General Automotive Repair

With these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $416,000 was given to a North Carolina entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harrisburg, North Carolina was able to borrow $416,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $312,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
Harrisburg, NC 28075

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

8/31/2007

Loan Approval Gross Amount

$416,000

Loan Approval from the SBA

Of the total $416,000 loan amount, the SBA guaranteed $312,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Harrisburg NC, you ought to talk with a local Harrisburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Harrisburg businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Comerica Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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