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May 18, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > Catano, Business Loans > Doral Bank Catano Business Loans > Automotive Repair Shops Loan | ||||
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Cabo Rojo, Bank for SBA Loans
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Financing for Automotive Mechanical and Electrical Repair and MaintenanceWith these loans for automotive mechanical and electrical repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive mechanical and electrical repair and maintenance loan for $103,500 was given to a entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cabo Rojo, was able to borrow $103,500 from Doral Bank. The SBA made the loan possible by guaranteeing $87,975 of this small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS SBA Loan Lender DORAL BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7539 - Automotive Repair Shops NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 4/3/2006 Loan Approval Gross Amount $103,500 Loan Approval from the SBA Of the total $103,500 loan amount, the SBA guaranteed $87,975. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Microlending as a Small Business Funding Source
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