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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > General Automotive Repair Loan | ||||
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What Does It Take to Get a Business Loan in Garner, North Carolina?
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Bank Loans for General Automotive RepairLooking for bank loans for general automotive repair? Talk to a banker who works with the SBA. This $267,000 general automotive repair loan was issued by a Texas bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Small Business Loan Source LLC, out of Houston, Texas. The loan was granted and they received $267,000 to help grow their Garner, North Carolina business. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/9/2002 Loan Approval Gross Amount $267,000 Loan Approval from the SBA Of the total $267,000 loan amount, the SBA guaranteed $200,250. 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 3 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Browse All Business Loan Sources for Texas
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