General Automotive Repair Loans

With these loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $1,559,750 was given to an Oklahoma entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Commercial Bank, out of Edmond, Oklahoma. The loan was granted and they received $1,559,750 to help grow their Oklahoma City, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
OKLAHOMA CITY, OK 73134

SBA Loan Lender

FIRST COMMERCIAL BANK
1601 S KELLY
EDMOND, OK 73013

This debt financing was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/16/2003

Loan Approval Gross Amount

$1,559,750

Loan Approval from the SBA

Of the total $1,559,750 loan amount, the SBA guaranteed $764,278.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Oklahoma City OK, you ought to talk with a local Oklahoma City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oklahoma City businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Commercial Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

How Much Venture Capital Is There?

SBA 7A Lenders in Edmond, Oklahoma

Getting an SBA Loan in Oklahoma