SBA Loans for General Automotive Repair

Looking for SBA loans for general automotive repair? Talk to a banker who works with the SBA. This $328,730 general automotive repair loan was issued by a New Mexico bank.

Getting a small business loan in San Jon, New Mexico was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Western Bank Of Clovis, operating out of Clovis, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SAN JON, NM 88434

SBA Loan Lender

WESTERN BANK OF CLOVIS
901 PILE ST
CLOVIS, NM 88101

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$328,730

Loan Approval from the SBA

Of the total $328,730 loan amount, the SBA guaranteed $246,548.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Accountant's Role in Securing Financing

SBA 7A Banks for Clovis, New Mexico Loans

SBA Lenders in New Mexico