Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for loans for automotive mechanical and electrical repair and maintenance? The SBA may be the answer. This $265,000 automotive mechanical and electrical repair and maintenance loan was issued by a Connecticut bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Td Banknorth, out of Meriden, Connecticut. The loan was granted and they received $265,000 to help grow their Manchester, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
MANCHESTER, CT 06040

SBA Loan Lender

TD BANKNORTH
30 E MAIN ST
MERIDEN, CT 06450

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

6/22/2000

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

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 4 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Equity Financing

SBA Approved Banks in Meriden, Connecticut

SBA Connecticut Lenders