Commercial Loans for General Automotive Repair

With these commercial loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $234,000 was given to an Indiana entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with 1st Source Bank, out of South Bend, Indiana. The loan was granted and they received $234,000 to help grow their South Bend, Indiana business.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
SOUTH BEND, IN 46601

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

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.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/3/2001

Loan Approval Gross Amount

$234,000

Loan Approval from the SBA

Of the total $234,000 loan amount, the SBA guaranteed $175,500.

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 7 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start business in South Bend IN, you ought to talk with a local South Bend SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South Bend businesses.

We can help you find the best banks for small businesses in South Bend or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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