Getting an SBA Loan for General Automotive Repair
Looking for commercial loans for general automotive repair? Try the SBA. This $250,000 general automotive repair loan was issued by a Massachusetts bank.
This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Sovereign Bank, out of Dorchester, Massachusetts. The loan was granted and they received $250,000 to help grow their New Bedford, Massachusetts business.
SBA Loan Borrower
COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
NEW BEDFORD, MA 02740
SBA Loan Lender
2 MORRISEY BLVD
DORCHESTER, MA 02125
The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
811111 - General Automotive Repair
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $125,000.
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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you have been wondering how do i get money to start a business in New Bedford MA, you ought to talk with a local New Bedford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Bedford businesses.
This SBA loan was for $250,000. How would you spend $250,000 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.
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SBA Approved Banks in Dorchester, Massachusetts
SBA Participating Banks in Massachusetts