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May 6, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > General Automotive Repair Loan | ||||
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Colorado Small Business Funding
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Raising Money for General Automotive RepairLooking for business loans for general automotive repair? The SBA may be the answer. This $86,800 general automotive repair loan was issued by an Utah bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Trinidad, Colorado was able to borrow $86,800 from Bank Of The West. The SBA made the loan possible by guaranteeing $73,780 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender BANK OF THE WEST This SBA small business 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 811111 - General Automotive Repair Loan Approval Date 11/21/2002 Loan Approval Gross Amount $86,800 Loan Approval from the SBA Of the total $86,800 loan amount, the SBA guaranteed $73,780. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: SBA 7A Banks in Salt Lake City, Utah
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