Raising Money for General Automotive Repair
Looking for business loans for general automotive repair? The SBA may be the answer. This $100,000 general automotive repair loan was issued by a California bank.
This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $100,000 to help grow their Santa Monica, California business.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SANTA MONICA, CA 90405
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
1/28/2002
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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.
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