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November 22, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Amherst, Business Loans > Manufacturers & Traders Trust Amherst Business Loans > General Automotive Repair Shops Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Loans for General Automotive RepairLooking for loans for general automotive repair? The SBA may be the answer. This $40,000 general automotive repair loan was issued by a New York bank. This small firm knew how to go about getting a business bank loan. Based in Munson, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender MANUFACTURERS & TRADERS TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/27/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: A Company That Helps Entrepreneurs SBA Approved Banks in Amherst, New York SBA Participating Banks in New York
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