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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > General Automotive Repair Loan | ||||
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Taylor, Michigan Bank Loan
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Where to Get Capital for General Automotive RepairWith these SBA loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $50,000 was given to a Michigan entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Taylor, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Rbs Citizens, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender RBS CITIZENS This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/12/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Providence, Rhode Island
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