Commercial Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for commercial loans for automotive mechanical and electrical repair and maintenance? Talk to a banker who works with the SBA. This $425,000 automotive mechanical and electrical repair and maintenance loan was issued by a Louisiana bank.

This small business knew how to go about getting a business bank loan. Based in Lafayette, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Home Bank, based in Lafayette, Louisiana.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
LAFAYETTE, LA 70583

SBA Loan Lender

HOME BANK
503 KALISTE SALOOM RD
LAFAYETTE, LA 70508

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

4/3/2000

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Raising Venture Capital

Find an SBA Lender in Lafayette, Louisiana

Louisiana SBA 7A Banks