General Automotive Repair Loans

With these loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $140,000 was given to a New York entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in West Nyack, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Greater Community Bank, based in Totowa, New Jersey.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
WEST NYACK, NY 10994

SBA Loan Lender

GREATER COMMUNITY BANK
55 UNION BLVD
TOTOWA, NJ 07512

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

9/27/2007

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 7 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Credit Evaluation

Small Bank Loans in Totowa, New Jersey

Getting a Business Loan in New Jersey