Where to Get Capital for General Automotive Repair

With these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $41,100 was given to an Idaho entrepreneur in 2001.

This company knew how to go about getting a business bank loan. Based in Pocatello, Idaho, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Ireland Bank, based in Pocatello, Idaho.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
POCATELLO, ID 83201

SBA Loan Lender

IRELAND BANK
2715 POLELINE RD
POCATELLO, ID 83204

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/31/2001

Loan Approval Gross Amount

$41,100

Loan Approval from the SBA

Of the total $41,100 loan amount, the SBA guaranteed $34,935.

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 3 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ireland Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ireland 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.

Related Links:

Advice on Getting a Small Business Loan

SBA Banks in Pocatello, Idaho

SBA Lenders in Idaho