Raising Money for General Automotive Repair

Looking for business loans for general automotive repair? Talk to a banker who works with the SBA. This $82,700 general automotive repair loan was issued by a Washington bank.

This business knew how to go about getting a business bank loan. Based in Pasco, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Banner Bank, based in Walla Walla, Washington.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
PASCO, WA 99301

SBA Loan Lender

BANNER BANK
10 S FIRST AVE
WALLA WALLA, WA 99362

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$82,700

Loan Approval from the SBA

Of the total $82,700 loan amount, the SBA guaranteed $41,350.

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 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banner Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banner Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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