Automotive Body, Paint, and Interior Repair and Maintenance Commercial Loans

Looking for commercial loans for automotive body, paint, and interior repair and maintenance? An SBA loan may be just what you've been looking for. This $1,211,700 automotive body, paint, and interior repair and maintenance loan was issued by a Delaware bank.

This business knew how to go about getting a business bank loan. Based in Marshfield (census Name For Ma, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Lehman Brothers Bank, Fsb, based in Wilmington, Delaware.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
MARSHFIELD (CENSUS NAME FOR MA, MA 02050

SBA Loan Lender

LEHMAN BROTHERS BANK, FSB
1000 WEST ST, STE 200
WILMINGTON, DE 19801

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

11/7/2007

Loan Approval Gross Amount

$1,211,700

Loan Approval from the SBA

Of the total $1,211,700 loan amount, the SBA guaranteed $908,775.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lehman Brothers Bank, Fsb are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

Small Bank Loans in Wilmington, Delaware

SBA Lenders in Delaware