Raising Money for Automotive Repair and Maintenance

Looking for bank loans for automotive repair and maintenance? An SBA loan may be just what you've been looking for. This $857,000 automotive repair and maintenance loan was issued by a Michigan bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Fifth Third Bank, out of Grand Haven, Michigan. The loan was granted and they received $857,000 to help grow their Kalamazoo, Michigan business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
KALAMAZOO, MI 49001

SBA Loan Lender

FIFTH THIRD BANK
233 WASHINGTON ST
GRAND HAVEN, MI 49417

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

2/21/2007

Loan Approval Gross Amount

$857,000

Loan Approval from the SBA

Of the total $857,000 loan amount, the SBA guaranteed $642,750.

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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $857,000. How would you spend $857,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

Related Links:

Business Line of Credit

Find an SBA Lender in Grand Haven, Michigan

SBA Participating Banks in Michigan