General Automotive Repair Commercial Loans

Looking for commercial loans for general automotive repair? Talk to a banker who works with the SBA. This $43,000 general automotive repair loan was issued by a South Dakota bank.

Getting a small business loan in Sturgis, South Dakota was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The First Western Bank Sturgis, operating out of Sturgis, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
STURGIS, SD 57785

SBA Loan Lender

THE FIRST WESTERN BANK STURGIS
1200 MAIN ST
STURGIS, SD 57785

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/16/2001

Loan Approval Gross Amount

$43,000

Loan Approval from the SBA

Of the total $43,000 loan amount, the SBA guaranteed $36,550.

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 loan application did not indicate that the small business planned to use the loan proceeds to add 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $43,000 loan. Remember, anyone can do it... so why not 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:

Getting a Small Business Loan

Small Business Banks in Sturgis, South Dakota

South Dakota SBA Bank Lenders