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May 17, 2024 |
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| Home > Small Business Lenders by State > Louisiana Business Loan Sources > Lafayette, Business Loans > Home Bank Lafayette Business Loans > Automotive Repair Shops Loan | ||||
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Business Loans for Lafayette Entrepreneurs
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Commercial Loans for Automotive Mechanical and Electrical Repair and MaintenanceLooking for commercial loans for automotive mechanical and electrical repair and maintenance? Talk to a banker who works with the SBA. This $425,000 automotive mechanical and electrical repair and maintenance loan was issued by a Louisiana bank. This small business knew how to go about getting a business bank loan. Based in Lafayette, Louisiana, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Home Bank, based in Lafayette, Louisiana. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS SBA Loan Lender HOME BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7539 - Automotive Repair Shops NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 4/3/2000 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Find an SBA Lender in Lafayette, Louisiana
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