Financing for General Automotive Repair

Looking for loans for general automotive repair? An SBA loan may be just what you've been looking for. This $40,000 general automotive repair loan was issued by an Oklahoma bank.

Getting a small business loan in Tulsa, Oklahoma was important for Newton Automotive back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bancfirst, operating out of Oklahoma City, Oklahoma. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

NEWTON AUTOMOTIVE
1330 E 11TH STREET
TULSA, OK 74120

SBA Loan Lender

BANCFIRST
101 N BROADWAY, STE 1050
OKLAHOMA CITY, OK 73102

This commercial loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA delivers a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

9/3/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower, Newton Automotive, 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 2 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. This loan was paid in full, and was closed out on 5/1/2007.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Newton Automotive needed a loan. Bancfirst probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Bancfirst made the loan. The end result was that Newton Automotive was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

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

Related Links:

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SBA Participating Banks in Oklahoma City, Oklahoma

SBA Lenders in Oklahoma

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