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November 15, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > General Automotive Repair Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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Where to Get Capital for General Automotive RepairLooking for SBA loans for general automotive repair? Talk to a banker who works with the SBA. This $411,000 general automotive repair loan was issued by a Texas bank. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Small Business Loan Source LLC, out of Houston, Texas. The loan was granted and they received $411,000 to help grow their Evanston, Illinois business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/13/2006 Loan Approval Gross Amount $411,000 Loan Approval from the SBA Of the total $411,000 loan amount, the SBA guaranteed $308,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Small Business Loan Source LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:
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