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December 22, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Top And Body Repair And Paint Shops Loan | ||||
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Advice for Businesses On Getting a Loan
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Where to Get Capital for Automotive Body, Paint, and Interior Repair and MaintenanceLooking for small business loans for automotive body, paint, and interior repair and maintenance? The SBA may be the answer. This $700,000 automotive body, paint, and interior repair and maintenance loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Mendham, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bank Of The West, based in San Francisco, California. SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender BANK OF THE WEST 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. SIC Code 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 9/22/2000 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 14 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA Banks in San Francisco, California
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