Texas Entrepreneur Secures Financing to Buy A+ Transmission Franchise

Need money to buy an A+ Transmission franchise? Lone Star Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Houston, Texas and are interested in buying an A+ Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Lone Star Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

A PLUS TRANSMISSION SPECIALIST
HOUSTON, TX 77030

SBA Loan Lender

LONE STAR BANK
952 ECHO LANE, STE 100
HOUSTON, TX 77024

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

11/16/2007

Loan Approval Gross Amount

$435,000

Loan Approval from the SBA

Of the total $435,000 loan amount, the SBA guaranteed $326,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an A+ Transmission franchise. At the time of the loan, the company had 16 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 11 existing jobs.

Next Steps for Getting an SBA Loan

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Lone Star Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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