Loans for General Automotive Repair

With these loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $164,000 was given to an Utah entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tooele, Utah was able to borrow $164,000 from Tooele Fcu. The SBA made the loan possible by guaranteeing $123,000 of this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
TOOELE, UT 84074

SBA Loan Lender

TOOELE FCU
562 N MAIN ST
TOOELE, UT 84074

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

6/26/2007

Loan Approval Gross Amount

$164,000

Loan Approval from the SBA

Of the total $164,000 loan amount, the SBA guaranteed $123,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Tooele Fcu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How to Raise Money

Small Business Banks in Tooele, Utah

Utah SBA 7A Lenders