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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Garland, Business Loans > United Central Bank Garland Business Loans > Motor Vehicle Dealers Loan | ||||
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Raising Money in Dallas, Texas With SBA Loans
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How to Get a Loan for Motor Vehicle DealersLooking for SBA loans for motor vehicle dealers? An SBA loan may be just what you've been looking for. This $150,000 motor vehicle dealers loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dallas, Texas was able to borrow $150,000 from United Central Bank. The SBA made the loan possible by guaranteeing $127,500 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender UNITED CENTRAL 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 441229 - Motor Vehicle Dealers Loan Approval Date 12/23/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Lenders in Garland, Texas
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