Financing for General Automotive Repair

Looking for commercial loans for general automotive repair? The SBA may be the answer. This $131,000 general automotive repair loan was issued by an Oklahoma bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank & Trust Chic, out of Chickasha, Oklahoma. The loan was granted and they received $131,000 to help grow their Oklahoma, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
OKLAHOMA, OK 73129

SBA Loan Lender

1ST NATIONAL BANK & TRUST CHIC
302 CHICKASHA AVE
CHICKASHA, OK 73023

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/24/2002

Loan Approval Gross Amount

$131,000

Loan Approval from the SBA

Of the total $131,000 loan amount, the SBA guaranteed $111,350.

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 5 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Oklahoma OK, you ought to talk with a local Oklahoma SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oklahoma businesses.

We can help you find the best banks for small businesses in Oklahoma 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:

Obtaining Funding From a Venture Capitalist

SBA Banks in Chickasha, Oklahoma

SBA Lenders in Oklahoma