Borrowing Money for General Automotive Repair

With these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $47,000 was given to a Missouri entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lebanon, Missouri was able to borrow $47,000 from Southern Missouri Bank - Marshfi. The SBA made the loan possible by guaranteeing $39,950 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
LEBANON, MO 65536

SBA Loan Lender

SOUTHERN MISSOURI BANK - MARSHFI
1292 BANNING ST
MARSHFIELD, MO 65706

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

5/2/2001

Loan Approval Gross Amount

$47,000

Loan Approval from the SBA

Of the total $47,000 loan amount, the SBA guaranteed $39,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Lebanon 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.

Related Links:

Microlending as a Small Business Funding Source

SBA 7A Banks in Marshfield, Missouri

Missouri SBA Banks