El Paso, Texas Bank Lends Money to General Automotive Repair Company in El Paso, Texas

Find El Paso, Texas banks that specialize in SBA loans and know how to work with entrepreneurs. United Bank - El Paso Del Norte is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in El Paso, Texas starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from United Bank - El Paso Del Norte. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
EL PASO, TX 79932

SBA Loan Lender

UNITED BANK - EL PASO DEL NORTE
125 MESA HILLS DR
EL PASO, TX 79912

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

3/27/2006

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank - El Paso Del Norte had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank - El Paso Del Norte made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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