Raising Money for Automotive Repair and Maintenance

Looking for business loans for automotive repair and maintenance? Try the SBA. This $562,500 automotive repair and maintenance loan was issued by an Utah bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Celtic Bank Corporation, out of Salt Lake City, Utah. The loan was granted and they received $562,500 to help grow their Salt Lake City, Utah business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
SALT LAKE CITY, UT 84104

SBA Loan Lender

CELTIC BANK CORPORATION
340 E 400
SALT LAKE CITY, UT 84111

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$562,500

Loan Approval from the SBA

Of the total $562,500 loan amount, the SBA guaranteed $421,875.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Celtic Bank Corporation 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:

Business Credit Evaluation

SBA 7A Lenders in Salt Lake City, Utah

SBA Participating Banks in Utah