How to Get a Loan for Automotive Transmission Repair

Looking for SBA loans for automotive transmission repair? An SBA loan may be just what you've been looking for. This $1,586,000 automotive transmission repair loan was issued by an Ohio bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with U.S. Bank National Association, out of Cincinnati, Ohio. The loan was granted and they received $1,586,000 to help grow their Mission Viejo, California business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
MISSION VIEJO, CA 92865

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$1,586,000

Loan Approval from the SBA

Of the total $1,586,000 loan amount, the SBA guaranteed $999,988.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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