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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Sterling Bank Houston Business Loans > Automotive Repair Shops Loan | ||||
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SBA 7A Banks for Houston Small Businesses
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Get an SBA Loan for General Automotive RepairLooking for small business loans for general automotive repair? The SBA may be the answer. This $657,000 general automotive repair loan was issued by a Texas bank. Getting a small business loan in Houston, Texas was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Sterling Bank, operating out of Houston, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS SBA Loan Lender STERLING BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7539 - Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 12/27/2001 Loan Approval Gross Amount $657,000 Loan Approval from the SBA Of the total $657,000 loan amount, the SBA guaranteed $492,750. 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 6 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sterling Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sterling Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Role of Business Plan When Raising Money SBA Participating Banks in Houston, Texas
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