General Automotive Repair Commercial Loans
Looking for commercial loans for general automotive repair? The SBA may be the answer. This $350,000 general automotive repair loan was issued by an Illinois bank.
Getting a small business loan in Tuscola, Illinois was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Longview State Bank, operating out of Sidney, Illinois. Here are the details on this Illinois small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
TUSCOLA, IL 61953
SBA Loan Lender
LONGVIEW STATE BANK
414 W MAIN ST
SIDNEY, IL 61877
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA 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
9/25/2000
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $262,500.
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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
This company got an SBA loan. You can too! Maybe you need seed money for business? 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.
Related Links:
Understanding Dilution
Small Business Banks in Sidney, Illinois
SBA Illinois Lenders