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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Amarillo, Business Loans > Herring Bank Amarillo Business Loans > Automotive Repair And Maintenance Loan | ||||
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Tips for Small Businesses On Getting a Loan
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How to Get a Loan for Automotive Repair and MaintenanceLooking for business loans for automotive repair and maintenance? The SBA may be the answer. This $10,000 automotive repair and maintenance loan was issued by a Texas bank. This small business knew how to go about getting a business bank loan. Based in Amarillo, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Herring Bank, based in Amarillo, Texas. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender HERRING BANK This lender issued this particular bank 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 811198 - Automotive Repair and Maintenance Loan Approval Date 10/10/2001 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Herring 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 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: Accountant's Role in Securing Financing SBA 7A Banks in Amarillo, Texas
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