Texas Entrepreneur Secures Financing to Buy Maaco Auto Painting Center Franchise

Need money to buy a Maaco Auto Painting Center franchise? Sterling Bank has a history of making these loans and they are guaranteed by the SBA.

Maaco Auto Painting Center franchise loans are available to Flower Mound, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sterling Bank, based in Houston, Texas, issued an SBA franchise loan for a Maaco Auto Painting Center franchise in 2006. We've got all the details on this Texas small business loan.

SBA Loan Borrower

MAACO COLLISION REPAIR & AUTO
FLOWER MOUND, TX 75028

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

2/28/2006

Loan Approval Gross Amount

$216,000

Loan Approval from the SBA

Of the total $216,000 loan amount, the SBA guaranteed $162,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the funding would help generate 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sterling Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

MAACO Enterprises, Inc.

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SBA 7A Lenders in Houston, Texas

Getting a Business Loan in Texas