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May 11, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Topeka, Business Loans > Capital City Bank Topeka Business Loans > General Automotive Repair Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Where to Get Capital for General Automotive RepairLooking for small business loans for general automotive repair? Try the SBA. This $23,700 general automotive repair loan was issued by a Kansas bank. This company knew how to go about getting a business bank loan. Based in Topeka, Kansas, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Capital City Bank, based in Topeka, Kansas. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CAPITAL CITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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 811111 - General Automotive Repair Loan Approval Date 1/29/2002 Loan Approval Gross Amount $23,700 Loan Approval from the SBA Of the total $23,700 loan amount, the SBA guaranteed $20,145. 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 only one employee. This SBA loan request did not indicate that the small business planned to use the money to hire new employees 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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