General Automotive Repair Small Business Loans

Looking for small business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $146,000 general automotive repair loan was issued by an Illinois bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Alpine Bank Of Illinois, out of Rockford, Illinois. The loan was granted and they received $146,000 to help grow their Rockford, Illinois business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ROCKFORD, IL 61108

SBA Loan Lender

ALPINE BANK OF ILLINOIS
1700 N ALPINE RD
ROCKFORD, IL 61107

This SBA small business loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

8/14/2003

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $124,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alpine Bank Of Illinois and they will explain how you can get an SBA loan for your company.

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:

The Friends and Family Network

SBA 7A Banks in Rockford, Illinois

Illinois SBA 7A Lenders