Get an SBA Loan for Automotive Repair and Maintenance

Looking for loans for automotive repair and maintenance? The SBA may be the answer. This $498,500 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 Anaheim, California was able to borrow $498,500 from Internatl City Bank. The SBA made the loan possible by guaranteeing $373,875 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
ANAHEIM, CA 92804

SBA Loan Lender

INTERNATL CITY BANK
249 E OCEAN BLVD
LONG BEACH, CA 90802

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

11/18/2003

Loan Approval Gross Amount

$498,500

Loan Approval from the SBA

Of the total $498,500 loan amount, the SBA guaranteed $373,875.

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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Internatl City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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