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November 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Automotive Repair And Maintenance Loan | ||||
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Small Business Banks for Saint Petersburg Business Owners
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Automotive Repair and Maintenance Small Business LoansLooking for small business loans for automotive repair and maintenance? Try the SBA. This $200,000 automotive repair and maintenance loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Saint Petersburg, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The West, based in San Francisco, California. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender BANK OF THE WEST This lender provides SBA 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 811198 - Automotive Repair and Maintenance Loan Approval Date 9/17/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Banks in San Francisco, California
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