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May 2, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Fernandina Beach, Business Loans > First Coast Community Bank Fernandina Beach Business Loans > General Automotive Repair Loan | ||||
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Tips for Small Businesses On Getting a Loan
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General Automotive Repair SBA LoansLooking for SBA loans for general automotive repair? Talk to a banker who works with the SBA. This $50,000 general automotive repair loan was issued by a Florida bank. This small business knew how to go about getting a business bank loan. Based in Kingsland, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Coast Community Bank, based in Fernandina Beach, Florida. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FIRST COAST COMMUNITY BANK This lender issued this particular SBA small business 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 4/18/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Fernandina Beach, Florida SBA Participating Banks in Florida
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