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November 22, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Walnut Creek, Business Loans > Superior Financial Group, LLC Walnut Creek Business Loans > General Automotive Repair Loan | ||||
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Small Business Banks for Nashville Business Owners
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General Automotive Repair SBA LoansLooking for SBA loans for general automotive repair? The SBA may be the answer. This $10,000 general automotive repair loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Nashville, Tennessee, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Superior Financial Group, LLC, based in Walnut Creek, California. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender SUPERIOR FINANCIAL GROUP, LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/11/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 6 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 6 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Walnut Creek, California
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