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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Highland Village, Business Loans > United Community Bank Highland Village Business Loans > Motor Vehicle Parts Manufacturing Loan | ||||
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How to Get SBA Loans in Cedar Hill, Texas
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Bank Loans for Motor Vehicle Parts ManufacturingWith these bank loans for motor vehicle parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle parts manufacturing loan for $210,000 was given to a Texas entrepreneur in 2004. This small firm knew how to go about getting a business bank loan. Based in Cedar Hill, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was United Community Bank, based in Highland Village, Texas. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE PARTS MANUFACTURING SBA Loan Lender UNITED COMMUNITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336399 - Motor Vehicle Parts Manufacturing Loan Approval Date 4/7/2004 Loan Approval Gross Amount $210,000 Loan Approval from the SBA Of the total $210,000 loan amount, the SBA guaranteed $157,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 United Community 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: Banks in Highland Village, Texas
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