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November 15, 2024 |
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| Home > Small Business Lenders by State > Alabama Business Loan Sources > New York, Business Loans > Newtek Small Business Finance Inc. New York Business Loans > General Automotive Repair Loan | ||||
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Advice for Business Owners On Getting a Loan
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How to Get a Loan for General Automotive RepairLooking for commercial loans for general automotive repair? An SBA loan may be just what you've been looking for. This $250,000 general automotive repair loan was issued by a New York bank. This small business knew how to go about getting a business bank loan. Based in Mobile, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Newtek Small Business Finance Inc., based in New York, New York. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender NEWTEK SMALL BUSINESS FINANCE INC. This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/17/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 3 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newtek Small Business Finance Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newtek Small Business Finance Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in New York, New York
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