General Automotive Repair Small Business Loans

Looking for small business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $410,000 general automotive repair loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ithaca, New York was able to borrow $410,000 from Tioga State Bank. The SBA made the loan possible by guaranteeing $307,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ITHACA, NY 14850

SBA Loan Lender

TIOGA STATE BANK
1 MAIN ST
SPENCER, NY 14883

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/8/2005

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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