Bank Loans for Automotive Body, Paint, and Interior Repair and Maintenance
Looking for bank loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $1,192,700 automotive body, paint, and interior repair and maintenance loan was issued by a California bank.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Wachovia Sba Lending, Inc., out of Roseville, California. The loan was granted and they received $1,192,700 to help grow their Glen Burnie, Maryland business.
SBA Loan Borrower
COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
GLEN BURNIE, MD 21061
SBA Loan Lender
WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661
This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7532 - Top and Body Repair and Paint Shops
NAICS Code
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
12/6/2004
Loan Approval Gross Amount
$1,192,700
Loan Approval from the SBA
Of the total $1,192,700 loan amount, the SBA guaranteed $894,525.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wachovia Sba Lending, Inc. 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.
Related Links:
Equity Financing
SBA 7A Banks for Roseville, California Loans
Getting a Business Loan in California