Getting an SBA Loan for Automotive Body, Paint, and Interior Repair and Maintenance

With these SBA loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $330,000 was given to an Ohio entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, Ohio was able to borrow $330,000 from First Fed. S & L Assoc - Lakew. The SBA made the loan possible by guaranteeing $247,500 of this Ohio small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
LAKEWOOD, OH 44107

SBA Loan Lender

FIRST FED. S & L ASSOC - LAKEW
14806 DETROIT AVE
LAKEWOOD, OH 44107

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

10/23/2001

Loan Approval Gross Amount

$330,000

Loan Approval from the SBA

Of the total $330,000 loan amount, the SBA guaranteed $247,500.

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. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Fed. S & L Assoc - Lakew and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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SBA 7A Banks in Lakewood, Ohio

Getting an SBA Loan in Ohio