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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Auburn Hills, Business Loans > Bank Of Auburn Hills Auburn Hills Business Loans > General Automotive Repair Loan | ||||
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Bank Of Auburn Hills Small Business Loan
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General Automotive Repair Small Business LoansLooking for small business loans for general automotive repair? The SBA may be the answer. This $242,500 general automotive repair loan was issued by a Michigan bank. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Of Auburn Hills, out of Auburn Hills, Michigan. The loan was granted and they received $242,500 to help grow their Waterford, Michigan business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender BANK OF AUBURN HILLS Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/21/2006 Loan Approval Gross Amount $242,500 Loan Approval from the SBA Of the total $242,500 loan amount, the SBA guaranteed $181,875. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of Auburn Hills are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Banking Deregulation's Effects on Entrepreneurship Who Lends Money to Small Businesses in Auburn Hills, Michigan
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