Automotive Parts and Accessories Stores Bank Loans

Looking for bank loans for automotive parts and accessories stores? An SBA loan may be just what you've been looking for. This $160,200 automotive parts and accessories stores loan was issued by a Texas bank.

This company knew how to go about getting a business bank loan. Based in Kermit, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was West Texas National Bank, based in Kermit, Texas.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
KERMIT, TX 79745

SBA Loan Lender

WEST TEXAS NATIONAL BANK
101 EAST AVE
KERMIT, TX 79745

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/13/2006

Loan Approval Gross Amount

$160,200

Loan Approval from the SBA

Of the total $160,200 loan amount, the SBA guaranteed $120,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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