General Automotive Repair Loans

Looking for loans for general automotive repair? Try the SBA. This $1,311,000 general automotive repair loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Wachovia Sba Lending, Inc., out of Roseville, California. The loan was granted and they received $1,311,000 to help grow their Monroe, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
MONROE, NC 28110

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/1/2008

Loan Approval Gross Amount

$1,311,000

Loan Approval from the SBA

Of the total $1,311,000 loan amount, the SBA guaranteed $983,250.

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 13 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in Monroe NC, you ought to talk with a local Monroe SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Monroe businesses.

We can help you find the best banks for small businesses in Monroe or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks for Roseville, California Loans

SBA California Lenders