Automotive Body, Paint, and Interior Repair and Maintenance Loans

Looking for loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $39,800 automotive body, paint, and interior repair and maintenance loan was issued by an Iowa bank.

This small firm knew how to go about getting a business bank loan. Based in Forest City, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Farmers State Bank, based in Northwood, Iowa.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
FOREST CITY, IA 50436

SBA Loan Lender

FARMERS STATE BANK
99 N 7TH ST
NORTHWOOD, IA 50459

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

2/14/2001

Loan Approval Gross Amount

$39,800

Loan Approval from the SBA

Of the total $39,800 loan amount, the SBA guaranteed $33,830.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 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.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Farmers State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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SBA 7A Banks for Northwood, Iowa Loans

SBA Participating Banks in Iowa