Bank Loans for General Automotive Repair

With these bank loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $58,500 was given to a Nebraska entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Pinnacle Bank, out of Shelby, Nebraska. The loan was granted and they received $58,500 to help grow their Shelby, Nebraska business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
SHELBY, NE 68662

SBA Loan Lender

PINNACLE BANK
215 N WALNUT
SHELBY, NE 68662

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/16/2001

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $49,725.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Pinnacle Bank 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Shelby, Nebraska

Nebraska SBA 7A Lenders