Automotive Repair and Maintenance Loans

With these loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $127,000 was given to a Missouri entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lockwood, Missouri was able to borrow $127,000 from Liberty Bank. The SBA made the loan possible by guaranteeing $107,950 of this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
LOCKWOOD, MO 65682

SBA Loan Lender

LIBERTY BANK
1414 E PRIMROSE
SPRINGFIELD, MO 65804

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

12/2/2004

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $107,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $127,000 loan. Remember, if it to be, it is up to me!

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:

Obtaining Funding - How to Decide How Much to Raise

Who Lends Money to Small Businesses in Springfield, Missouri

Getting an SBA Loan in Missouri