Getting an SBA Loan 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 $130,000 was given to a Wisconsin entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community First Bank, out of Stevens Point, Wisconsin. The loan was granted and they received $130,000 to help grow their Stevens Point, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
STEVENS POINT, WI 54481

SBA Loan Lender

COMMUNITY FIRST BANK
5525 HWY 10 EAST
STEVENS POINT, WI 54481

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

9/29/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

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

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community First Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Small Business Credit Cards

SBA Participating Banks in Stevens Point, Wisconsin

SBA Participating Banks in Wisconsin