General Automotive Repair Business Loans

Looking for business loans for general automotive repair? An SBA loan may be just what you've been looking for. This $600,000 general automotive repair loan was issued by a Virginia bank.

This small business knew how to go about getting a business bank loan. Based in Tampa, Florida, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Business Loan Center, LLC, based in Richmond, Virginia.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
TAMPA, FL 33612

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

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

4/4/2006

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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