Financing for General Automotive Repair

Looking for commercial loans for general automotive repair? Talk to a banker who works with the SBA. This $60,000 general automotive repair loan was issued by a Missouri bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with West Plains Bank & Trust, out of West Plains, Missouri. The loan was granted and they received $60,000 to help grow their West Plains, Missouri business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
WEST PLAINS, MO 65775

SBA Loan Lender

WEST PLAINS BANK & TRUST
11 COURT SQ
WEST PLAINS, MO 65775

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.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

10/21/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Determining Proper Capital Structure for a Business

Banks in West Plains, Missouri

Find an SBA Lender in Missouri