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November 23, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Comerica Bank Houston Business Loans > Automotive Transmission Repair Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Getting an SBA Loan for Automotive Transmission RepairLooking for SBA loans for automotive transmission repair? Try the SBA. This $665,600 automotive transmission repair loan was issued by a Texas bank. This business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Comerica Bank, based in Houston, Texas. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SBA Loan Lender COMERICA BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 12/6/2001 Loan Approval Gross Amount $665,600 Loan Approval from the SBA Of the total $665,600 loan amount, the SBA guaranteed $499,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Houston, Texas
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