Automotive Parts and Accessories Stores Bank Loans

With these bank loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $125,000 was given to a Connecticut entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Thomaston, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Thomaston Savings Bank, based in Thomaston, Connecticut.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
THOMASTON, CT 06787

SBA Loan Lender

THOMASTON SAVINGS BANK
203 MAIN ST
THOMASTON, CT 06787

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/14/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Thomaston CT, you ought to talk with a local Thomaston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Thomaston businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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SBA Approved Banks in Thomaston, Connecticut

SBA Lenders in Connecticut