General Automotive Repair SBA Loans

With these SBA loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $50,000 was given to an Oklahoma entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midwest City, Oklahoma was able to borrow $50,000 from Advantage Bank. The SBA made the loan possible by guaranteeing $42,500 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
MIDWEST CITY, OK 73130

SBA Loan Lender

ADVANTAGE BANK
8001 NE 23 ST
SPENCER, OK 73084

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Midwest City OK, you ought to talk with a local Midwest City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Midwest City businesses.

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:

How to Raise Money

SBA Banks in Spencer, Oklahoma

SBA Oklahoma Banks