General Automotive Repair Small Business Loans

Looking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $418,800 general automotive repair loan was issued by an Ohio bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yelm, Washington was able to borrow $418,800 from Keybank National Association. The SBA made the loan possible by guaranteeing $314,100 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
YELM, WA 98597

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

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

5/20/2003

Loan Approval Gross Amount

$418,800

Loan Approval from the SBA

Of the total $418,800 loan amount, the SBA guaranteed $314,100.

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 3 employees. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $418,800. How would you spend $418,800 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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