Where to Get Capital for General Automotive Repair
With these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $350,000 was given to a California entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bakersfield, California was able to borrow $350,000 from Mission Bank. The SBA made the loan possible by guaranteeing $262,500 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
BAKERSFIELD, CA 93308
SBA Loan Lender
1330 TRUXTUN AVE
BAKERSFIELD, CA 93301
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
811111 - General Automotive Repair
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $262,500.
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 loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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