Beaumont, TX Entrepreneur Gets SBA Loan to Buy Aamco Transmissions Franchise

Need money to invest in an Aamco Transmissions franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Aamco Transmissions franchise is doable. In 2002, Regions Bank issued an SBA franchise loan to an entrepreneur in Beaumont, Texas. Because Aamco Transmissions was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

AAMCO TRANSMISSION OF BEAUMONT
BEAUMONT, TX 77705

SBA Loan Lender

REGIONS BANK
1751 CONGRESSMAN DICKINSON DR
MONTGOMERY, AL 36109

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

1/11/2002

Loan Approval Gross Amount

$315,500

Loan Approval from the SBA

Of the total $315,500 loan amount, the SBA guaranteed $236,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Regions Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

AAMCO Transmissions, Inc.

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Getting a Business Loan in Alabama