Automotive Parts and Accessories Stores Small Business Loans

Looking for small business loans for automotive parts and accessories stores? Try the SBA. This $141,900 automotive parts and accessories stores loan was issued by an Ohio bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fifth Third Bank, out of Columbus, Ohio. The loan was granted and they received $141,900 to help grow their Plain City, Ohio business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
PLAIN CITY, OH 43064

SBA Loan Lender

FIFTH THIRD BANK
21 E STATE ST
COLUMBUS, OH 43215

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$141,900

Loan Approval from the SBA

Of the total $141,900 loan amount, the SBA guaranteed $120,615.

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 14 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Strategic Investors

SBA Participating Banks in Columbus, Ohio

SBA Lenders in Ohio