Where to Get Capital for General Automotive Repair
Looking for SBA loans for general automotive repair? Try the SBA. This $442,500 general automotive repair loan was issued by an Ohio bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Louis, Missouri was able to borrow $442,500 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $331,875 of this Missouri small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ST. LOUIS, MO 63114
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202
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
9/12/2006
Loan Approval Gross Amount
$442,500
Loan Approval from the SBA
Of the total $442,500 loan amount, the SBA guaranteed $331,875.
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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $442,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Role of Business Plan When Raising Money
Who Lends Money to Small Businesses in Cincinnati, Ohio
Ohio SBA Banks