Bank Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for bank loans for automotive mechanical and electrical repair and maintenance? The SBA may be the answer. This $289,600 automotive mechanical and electrical repair and maintenance loan was issued by a Texas bank.

Getting a small business loan in Houston, Texas was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from 1st Choice Bank, operating out of Houston, Texas. Here are the details on this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
HOUSTON, TX 77079

SBA Loan Lender

1ST CHOICE BANK
2310 YALE
HOUSTON, TX 77008

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

6/14/2001

Loan Approval Gross Amount

$289,600

Loan Approval from the SBA

Of the total $289,600 loan amount, the SBA guaranteed $217,200.

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 9 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from 1st Choice 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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