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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Automotive Repair And Maintenance Loan | ||||
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Nara Bank Commercial Loans
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Borrowing Money for Automotive Repair and MaintenanceLooking for bank loans for automotive repair and maintenance? Talk to a banker who works with the SBA. This $520,000 automotive repair and maintenance loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $520,000 from Nara Bank. The SBA made the loan possible by guaranteeing $390,000 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender NARA 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 811198 - Automotive Repair and Maintenance Loan Approval Date 11/9/2005 Loan Approval Gross Amount $520,000 Loan Approval from the SBA Of the total $520,000 loan amount, the SBA guaranteed $390,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 9 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 9 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Role of Business Plan When Raising Money SBA Approved Banks in Los Angeles, California
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