Automotive Body, Paint, and Interior Repair and Maintenance Small Business Loans
Looking for small business loans for automotive body, paint, and interior repair and maintenance? The SBA may be the answer. This $207,500 automotive body, paint, and interior repair and maintenance loan was issued by a California bank.
This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Security Business Bank - San Diego, out of San Diego, California. The loan was granted and they received $207,500 to help grow their San Diego, California business.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
San Diego, CA 92121
SBA Loan Lender
SECURITY BUSINESS BANK - SAN DIEGO
701 B ST, STE 100
SAN DIEGO, CA 92101
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
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
3/3/2006
Loan Approval Gross Amount
$207,500
Loan Approval from the SBA
Of the total $207,500 loan amount, the SBA guaranteed $155,625.
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 9 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 11 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Advice on Getting a Small Business Loan
Find an SBA Lender in San Diego, California
California SBA 7A Lenders