Loan Census Banking News and Information
January 29, 2023  
 
 
  Business Loan Information  
 

Small Business Banks for Tumwater Small Business Owners

 

 
Loan Census SBA Loan Info

Financing for Automotive Mechanical and Electrical Repair and Maintenance

Looking for commercial loans for automotive mechanical and electrical repair and maintenance? An SBA loan may be just what you've been looking for. This $65,000 automotive mechanical and electrical repair and maintenance loan was issued by a Washington bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Anchor Mutual Savings Bank Dba A, out of Aberdeen, Washington. The loan was granted and they received $65,000 to help grow their Tumwater, Washington business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
TUMWATER, WA 98512

SBA Loan Lender

ANCHOR MUTUAL SAVINGS BANK DBA A
100 W FIRST ST
ABERDEEN, WA 98520

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

8/24/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $65,000. How would you spend $65,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Banking Deregulation's Effects on Entrepreneurship

Small Bank Loans in Aberdeen, Washington

SBA Lenders in Washington