Where to Get Capital for Automotive Body, Paint, and Interior Repair and Maintenance

Looking for small business loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $212,900 automotive body, paint, and interior repair and maintenance loan was issued by an Ohio bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with The Lorain National Bank, out of Lorain, Ohio. The loan was granted and they received $212,900 to help grow their South Amherst, Ohio business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
SOUTH AMHERST, OH 44001

SBA Loan Lender

THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

3/9/2007

Loan Approval Gross Amount

$212,900

Loan Approval from the SBA

Of the total $212,900 loan amount, the SBA guaranteed $159,675.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $212,900 loan. Remember, you control your own destiny.

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:

Financing Your Business

SBA 7A Banks in Lorain, Ohio

SBA Lenders in Ohio