Automotive Mechanical and Electrical Repair and Maintenance Commercial Loans

Looking for commercial loans for automotive mechanical and electrical repair and maintenance? Try the SBA. This $54,900 automotive mechanical and electrical repair and maintenance loan was issued by a Georgia bank.

Getting a small business loan in Melbourne, Florida was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Atlanta, Georgia. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
MELBOURNE, FL 32935

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$54,900

Loan Approval from the SBA

Of the total $54,900 loan amount, the SBA guaranteed $43,920.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $54,900 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Small Business Credit Cards

SBA Approved Banks in Atlanta, Georgia

Where to Get an SBA Loan Georgia