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May 11, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > West Palm Beach, Business Loans > National City Bank West Palm Beach Business Loans > General Automotive Repair Shops Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Financing for General Automotive RepairLooking for loans for general automotive repair? Try the SBA. This $150,000 general automotive repair loan was issued by a Florida bank. This small firm knew how to go about getting a business bank loan. Based in Lake Worth, Florida, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was National City Bank, based in West Palm Beach, Florida. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender NATIONAL CITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 8/9/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Lake Worth or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in West Palm Beach, Florida Getting an SBA Loan in Florida
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