Small Business Loans for Automotive Body, Paint, and Interior Repair and Maintenance

Looking for small business loans for automotive body, paint, and interior repair and maintenance? The SBA may be the answer. This $538,000 automotive body, paint, and interior repair and maintenance loan was issued by a California bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with California National Bank, out of Los Angeles, California. The loan was granted and they received $538,000 to help grow their Paramount, California business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
PARAMOUNT, CA 90723

SBA Loan Lender

CALIFORNIA NATIONAL BANK
221 S FIGUEROA ST
LOS ANGELES, CA 90012

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

12/13/2000

Loan Approval Gross Amount

$538,000

Loan Approval from the SBA

Of the total $538,000 loan amount, the SBA guaranteed $403,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into California National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Start-Up Capital

SBA Banks in Los Angeles, California

Getting a Business Loan in California