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May 11, 2024 |
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| Home > Small Business Lenders by State > Colorado Business Loan Sources > Kansas City, Business Loans > Commerce Bank Kansas City Business Loans > General Automotive Repair Loan | ||||
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SBA Lender Franktown Colorado
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Raising Money for General Automotive RepairLooking for bank loans for general automotive repair? Try the SBA. This $40,000 general automotive repair loan was issued by a Missouri bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Franktown, Colorado was able to borrow $40,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $34,000 of this Colorado small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender COMMERCE BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/29/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 6 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $40,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: A Company That Helps Entrepreneurs SBA 7A Banks for Kansas City, Missouri Loans
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