How to Get a Loan for General Automotive Repair

With these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $807,750 was given to a Georgia entrepreneur in 2005.

Getting a small business loan in Smyrna, Georgia was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Highland Commercial Bank, operating out of Marietta, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SMYRNA, GA 30080

SBA Loan Lender

HIGHLAND COMMERCIAL BANK
3411 ERNEST BARRETT PKWY
MARIETTA, GA 30064

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

11/30/2005

Loan Approval Gross Amount

$807,750

Loan Approval from the SBA

Of the total $807,750 loan amount, the SBA guaranteed $403,875.

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 7 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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 can help you find the best banks for small businesses in Smyrna 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.

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