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May 3, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Durham, Business Loans > Self-Help Cu Durham Business Loans > General Automotive Repair Shops Loan | ||||
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Business Loans for Charlotte Businesses
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Small Business Loans for General Automotive RepairLooking for small business loans for general automotive repair? The SBA may be the answer. This $87,000 general automotive repair loan was issued by a North Carolina bank. Getting a small business loan in Charlotte, North Carolina was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Self-Help Cu, operating out of Durham, North Carolina. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender SELF-HELP CU This lender issued this particular business 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 4/5/2001 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $73,950. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Find an SBA Lender in Durham, North Carolina
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