Where to Get Capital for Automotive Body, Paint, and Interior Repair and Maintenance
Looking for small business loans for automotive body, paint, and interior repair and maintenance? Talk to a banker who works with the SBA. This $212,900 automotive body, paint, and interior repair and maintenance loan was issued by an Ohio bank.
This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with The Lorain National Bank, out of Lorain, Ohio. The loan was granted and they received $212,900 to help grow their South Amherst, Ohio business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
SOUTH AMHERST, OH 44001
SBA Loan Lender
THE LORAIN NATIONAL BANK
457 BROADWAY
LORAIN, OH 44052
This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
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
3/9/2007
Loan Approval Gross Amount
$212,900
Loan Approval from the SBA
Of the total $212,900 loan amount, the SBA guaranteed $159,675.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $212,900 loan. Remember, you control your own destiny.
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:
Financing Your Business
SBA 7A Banks in Lorain, Ohio
SBA Lenders in Ohio