Business Loans for Automotive Repair and Maintenance

With these business loans for automotive repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive repair and maintenance loan for $66,300 was given to a Texas entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Madisonville State Bank, out of Madisonville, Texas. The loan was granted and they received $66,300 to help grow their Crockett, Texas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
CROCKETT, TX 75835

SBA Loan Lender

MADISONVILLE STATE BANK
208 W MAIN
MADISONVILLE, TX 77864

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$66,300

Loan Approval from the SBA

Of the total $66,300 loan amount, the SBA guaranteed $56,355.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Credit Evaluation

Who Lends Money to Small Businesses in Madisonville, Texas

Texas SBA Bank Lenders