Irving, Texas Bank Gives SBA Loan to Automotive Services Company

Get to know Irving, Texas banks that specialize in small business loans and know how to work with entrepreneurs. Amresco Sba Holdings, Inc. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Colleyville, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Amresco Sba Holdings, Inc.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
COLLEYVILLE, TX 76034

SBA Loan Lender

AMRESCO SBA HOLDINGS, INC.
5221 N. O'CONNOR BLVD, SUITE
IRVING, TX 75039

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.

SIC Code

7549 - Automotive Services

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$1,230,500

Loan Approval from the SBA

Of the total $1,230,500 loan amount, the SBA guaranteed $749,989.

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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Amresco Sba Holdings, Inc. 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.

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