Where to Get Capital for General Automotive Repair

Looking for small business loans for general automotive repair? The SBA may be the answer. This $60,800 general automotive repair loan was issued by a Texas bank.

This company knew how to go about getting a business bank loan. Based in Morristown, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Jpmorgan Chase Bank, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
MORRISTOWN, IL 61115

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/13/2002

Loan Approval Gross Amount

$60,800

Loan Approval from the SBA

Of the total $60,800 loan amount, the SBA guaranteed $30,400.

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. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Jpmorgan Chase Bank and they will explain how you can get an SBA loan for your company.

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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