How to Get a Loan for Automotive Transmission Repair

With these SBA loans for automotive transmission repair, the SBA guarantees the lender that the loan will be repaid. This automotive transmission repair loan for $437,000 was given to a Massachusetts entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Northampton, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Florence Savings Bank, based in Florence, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
NORTHAMPTON, MA 01060

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

3/26/2003

Loan Approval Gross Amount

$437,000

Loan Approval from the SBA

Of the total $437,000 loan amount, the SBA guaranteed $327,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $437,000. How would you spend $437,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA 7A Banks for Florence, Massachusetts Loans

Massachusetts SBA 7A Lenders