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November 21, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Automotive Repair And Maintenance Loan | ||||
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Requirements for Businesses On Getting a Loan
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Getting an SBA Loan for Automotive Repair and MaintenanceWith these commercial loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $25,000 was given to an Arizona entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Phoenix, Arizona was able to borrow $25,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $12,500 of this Arizona small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811198 - Automotive Repair and Maintenance Loan Approval Date 12/28/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Phoenix 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: SBA 7A Lenders in Cincinnati, Ohio SBA Participating Banks in Ohio
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