Commercial Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for commercial loans for automotive mechanical and electrical repair and maintenance? The SBA may be the answer. This $888,000 automotive mechanical and electrical repair and maintenance loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Livermore, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Temecula Valley Bank, based in Temecula, California.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
LIVERMORE, CA 94550

SBA Loan Lender

TEMECULA VALLEY BANK
27710 JEFFERSON AVE, A-100
TEMECULA, CA 92590

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

9/26/2002

Loan Approval Gross Amount

$888,000

Loan Approval from the SBA

Of the total $888,000 loan amount, the SBA guaranteed $666,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $888,000 loan. Remember, where there is a will, there is a way!

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:

Role of Business Plan When Raising Money

Small Business Banks in Temecula, California

California SBA 7A Lenders