Where to Get Capital for General Automotive Repair

Looking for small business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $430,700 general automotive repair loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with United Central Bank, out of Garland, Texas. The loan was granted and they received $430,700 to help grow their Springfield, Virginia business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SPRINGFIELD, VA 22151

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$430,700

Loan Approval from the SBA

Of the total $430,700 loan amount, the SBA guaranteed $323,025.

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 35 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 50 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $430,700. How would you spend $430,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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