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May 6, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > New London, Business Loans > Rbs Citizens New London Business Loans > General Automotive Repair Loan | ||||
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New Haven, Connecticut Bank Loan
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How to Get a Loan for General Automotive RepairLooking for commercial loans for general automotive repair? An SBA loan may be just what you've been looking for. This $40,000 general automotive repair loan was issued by a Connecticut bank. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Rbs Citizens, out of New London, Connecticut. The loan was granted and they received $40,000 to help grow their New Haven, Connecticut business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender RBS CITIZENS The lender provided this 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. NAICS Code 811111 - General Automotive Repair Loan Approval Date 2/7/2001 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Rbs Citizens so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Good Banks for Small Business in New London, Connecticut
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