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December 25, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Christian Brothers Automotive Loan | ||||
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Corinth, Texas Bank Loan
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Corinth, TX Entrepreneur Gets SBA Loan to Buy Christian Brothers Automotive FranchiseNeed a loan to purchase a Christian Brothers Automotive franchise? Small Business Loan Source LLC has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Christian Brothers Automotive franchise? If so, here's a 2006 SBA franchise loan that you should know about. Small Business Loan Source LLC was the lender and the entrepreneur was based in Corinth, Texas. SBA Loan Borrower CHRISTIAN BROTHERS AUTOMOTIVE SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC 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 811111 - General Automotive Repair Loan Approval Date 12/1/2006 Loan Approval Gross Amount $268,000 Loan Approval from the SBA Of the total $268,000 loan amount, the SBA guaranteed $201,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Christian Brothers Automotive franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 for Houston, Texas Loans
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