Automotive Mechanical and Electrical Repair and Maintenance Loans

Looking for loans for automotive mechanical and electrical repair and maintenance? An SBA loan may be just what you've been looking for. This $122,000 automotive mechanical and electrical repair and maintenance loan was issued by an Iowa bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Rolling Hills Bank & Trust, out of Anita, Iowa. The loan was granted and they received $122,000 to help grow their Ralston, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
RALSTON, NE 68127

SBA Loan Lender

ROLLING HILLS BANK & TRUST
701 MAIN ST
ANITA, IA 50020

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

4/4/2000

Loan Approval Gross Amount

$122,000

Loan Approval from the SBA

Of the total $122,000 loan amount, the SBA guaranteed $91,500.

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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

How to Raise Money

SBA Approved Banks in Anita, Iowa

Where to Get an SBA Loan Iowa