Where to Get Capital for General Automotive Repair

With these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $15,000 was given to an Utah entrepreneur in 2007.

Getting a small business loan in Salt Lake City, Utah was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mountain America Fcu, operating out of Salt Lake City, Utah. Here are the details on this Utah small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
SALT LAKE CITY, UT 84106

SBA Loan Lender

MOUNTAIN AMERICA FCU
660 S 200 EAST
SALT LAKE CITY, UT 84111

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

2/28/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $7,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 450 new jobs.

Getting an SBA Loan For Your Business

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Mountain America Fcu 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.

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