 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Washington Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > General Automotive Repair Loan | ||||
 |
||||
Washington Small Business Funding
|
||||
 |
How to Get a Loan for General Automotive RepairWith these commercial loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $607,500 was given to a Washington entrepreneur in 2004. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Center Bank, out of Los Angeles, California. The loan was granted and they received $607,500 to help grow their Lynnwood, Washington business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender CENTER BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/15/2004 Loan Approval Gross Amount $607,500 Loan Approval from the SBA Of the total $607,500 loan amount, the SBA guaranteed $455,625. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $607,500 loan. Remember, where there is a will, there is a way! 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: Best Banks in Los Angeles, California
|
|
||
|
||||
|
|
||||