How to Get a Loan for Automotive Mechanical and Electrical Repair and Maintenance

With these business loans for automotive mechanical and electrical repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive mechanical and electrical repair and maintenance loan for $200,000 was given to a Florida entrepreneur in 2002.

Getting a small business loan in Milton, Florida was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st National Bank - Florida, operating out of Destin, Florida. Here are the details on this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
MILTON, FL 32570

SBA Loan Lender

1ST NATIONAL BANK - FLORIDA
17005 EMERALD COAST PKWY
DESTIN, FL 32541

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and are well trained in SBA loan requirements.

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

5/3/2002

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 3 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Business Cash Advances

Small Business Banks in Destin, Florida

SBA Florida Lenders