General Automotive Repair Bank Loans

Looking for bank loans for general automotive repair? Talk to a banker who works with the SBA. This $105,000 general automotive repair loan was issued by an Ohio bank.

Osburn Automotive & Towing knew how to go about getting a business bank loan. Based in Orrville, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was National City Bank, based in Orrville, Ohio.

SBA Loan Borrower

OSBURN AUTOMOTIVE & TOWING
1422 W. HIGH STREET
ORRVILLE, OH 44667

SBA Loan Lender

NATIONAL CITY BANK
101 W MARKET ST
ORRVILLE, OH 44667

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/9/2001

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower, Osburn Automotive & Towing, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like National City Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Business Incubators

Best Banks for Small Business in Orrville, Ohio

SBA Lenders in Ohio

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