Small Business Loans for General Automotive Repair

Looking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $52,000 general automotive repair loan was issued by a Tennessee bank.

Getting a small business loan in Union City, Tennessee was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First-Citizens National Bank, operating out of Union City, Tennessee. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
UNION CITY, TN 38261

SBA Loan Lender

FIRST-CITIZENS NATIONAL BANK
100 WASHINGTON AVE
UNION CITY, TN 38261

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First-Citizens National Bank and they will explain how you can get an SBA loan for your company.

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

SBA Approved Banks in Union City, Tennessee

Getting an SBA Loan in Tennessee