Automotive Body, Paint, and Interior Repair and Maintenance SBA Loans

With these SBA loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $1,372,500 was given to a Florida entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Miami, Florida was able to borrow $1,372,500 from Internatl Bancorp - Miami Inc.. The SBA made the loan possible by guaranteeing $1,029,375 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
SOUTH MIAMI, FL 33143

SBA Loan Lender

INTERNATL BANCORP - MIAMI INC.
121 ALHAMBRA PLZ, PENTHOUSE 2
CORAL GABLES, FL 33134

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

8/17/2007

Loan Approval Gross Amount

$1,372,500

Loan Approval from the SBA

Of the total $1,372,500 loan amount, the SBA guaranteed $1,029,375.

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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Internatl Bancorp - Miami Inc. 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.

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