Texas Entrepreneur Secures Financing to Buy Mobile Appearance Reconditioning Ser Franchise

Need a loan to purchase a Mobile Appearance Reconditioning Ser franchise? American State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mobile Appearance Reconditioning Ser franchise requires some effort but others before you have been successful. In 2002, American State Bank issued an SBA franchise loan to an entrepreneur in Abilene, Texas. Because Mobile Appearance Reconditioning Ser was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

MOBILE APPEARANCE RECONDITIONI
ABILENE, TX 79602

SBA Loan Lender

AMERICAN STATE BANK
402 CYPRESS ST
ABILENE, TX 79601

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

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

3/1/2002

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $41,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mobile Appearance Reconditioning Ser franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American State Bank 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.

Related Links:

Choosing VC Firms

Find an SBA Lender in Abilene, Texas

SBA Participating Banks in Texas