Bank Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for bank loans for automotive mechanical and electrical repair and maintenance? An SBA loan may be just what you've been looking for. This $487,500 automotive mechanical and electrical repair and maintenance loan was issued by a Florida bank.

Getting a small business loan in Jacksonville, Florida was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Nassau Cnty, operating out of Fernandina Beach, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
JACKSONVILLE, FL 32210

SBA Loan Lender

FIRST NATIONAL BANK - NASSAU CNTY
1891 S 14TH ST
FERNANDINA BEACH, FL 32034

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$487,500

Loan Approval from the SBA

Of the total $487,500 loan amount, the SBA guaranteed $365,625.

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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Jacksonville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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