How to Get a Loan for Automotive Repair and Maintenance

Looking for business loans for automotive repair and maintenance? The SBA may be the answer. This $80,000 automotive repair and maintenance loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Maria, California was able to borrow $80,000 from Heritage Oaks Bank. The SBA made the loan possible by guaranteeing $68,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
SANTA MARIA, CA 93455

SBA Loan Lender

HERITAGE OAKS BANK
545 12TH ST
PASO ROBLES, CA 93446

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

4/15/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Santa Maria or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Choosing VC Firms

Who Lends Money to Small Businesses in Paso Robles, California

SBA California Banks