Loans for General Automotive Repair

Looking for loans for general automotive repair? Try the SBA. This $217,800 general automotive repair loan was issued by an Arizona bank.

This small firm knew how to go about getting a business bank loan. Based in Phoenix, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Sunrise Bank Of Arizona, based in Phoenix, Arizona.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
PHOENIX, AZ 85022

SBA Loan Lender

SUNRISE BANK OF ARIZONA
4350 E CAMELBACK RD, STE 100
PHOENIX, AZ 85018

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$217,800

Loan Approval from the SBA

Of the total $217,800 loan amount, the SBA guaranteed $163,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Phoenix, Arizona

SBA Participating Banks in Arizona