Small Business Loans for Automotive Body, Paint, and Interior Repair and Maintenance
With these small business loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $620,000 was given to a New York entrepreneur in 2006.
This company knew how to go about getting a business bank loan. Based in Great Neck (village) (p.O. Sta, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Loan Source Incorporated, based in New York, New York.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
GREAT NECK (VILLAGE) (P.O. STA, NY 11022
SBA Loan Lender
LOAN SOURCE INCORPORATED
347 5TH AVE., SUITE 301
NEW YORK, NY 10016
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
9/15/2006
Loan Approval Gross Amount
$620,000
Loan Approval from the SBA
Of the total $620,000 loan amount, the SBA guaranteed $465,000.
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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:
Small Business Loan
SBA Approved Banks in New York, New York
SBA New York Lenders