Raising Money for Automotive Mechanical and Electrical Repair and Maintenance

Looking for business loans for automotive mechanical and electrical repair and maintenance? An SBA loan may be just what you've been looking for. This $464,600 automotive mechanical and electrical repair and maintenance loan was issued by an Oklahoma bank.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Stillwater National Bank & Trust, out of Stillwater, Oklahoma. The loan was granted and they received $464,600 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
TULSA, OK 74105

SBA Loan Lender

STILLWATER NATIONAL BANK & TRUST
608 S MAIN
STILLWATER, OK 74074

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

12/12/2001

Loan Approval Gross Amount

$464,600

Loan Approval from the SBA

Of the total $464,600 loan amount, the SBA guaranteed $348,450.

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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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