Raising Money for General Automotive Repair

Looking for bank loans for general automotive repair? The SBA may be the answer. This $450,000 general automotive repair loan was issued by an Illinois bank.

Getting a small business loan in Lake Zurich, Illinois was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Ben Franklin Bank Of Illinois, operating out of Arlington Heights, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LAKE ZURICH, IL 60047

SBA Loan Lender

BEN FRANKLIN BANK OF ILLINOIS
830 E KENSINGTON RD
ARLINGTON HEIGHTS, IL 60004

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/22/2005

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

This company got an SBA loan. You can too! Maybe you need seed money for a small 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.

Related Links:

Accountant's Role in Securing Financing

SBA Banks in Arlington Heights, Illinois

Illinois SBA 7A Lenders