Getting an SBA Loan for Automotive Glass Replacement Shops

Looking for SBA loans for automotive glass replacement shops? The SBA may be the answer. This $425,000 automotive glass replacement shops loan was issued by an Oklahoma bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bancfirst, out of Oklahoma City, Oklahoma. The loan was granted and they received $425,000 to help grow their Oklahoma City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE GLASS REPLACEMENT SHOPS
OKLAHOMA CITY, OK 73116

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7536 - Automotive Glass Replacement Shops

NAICS Code

811122 - Automotive Glass Replacement Shops

Loan Approval Date

4/28/2000

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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:

Advice on Getting a Small Business Loan

Who Lends Money to Small Businesses in Oklahoma City, Oklahoma

Where to Get an SBA Loan Oklahoma