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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > El Campo, Business Loans > Prosperity Bank El Campo Business Loans > Cottman Transmission Loan | ||||
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Raising Money in Lewisville, Texas With SBA Loans
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Borrow Money to Buy a Cottman Transmission FranchiseNeed a loan to purchase a Cottman Transmission franchise? Prosperity Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Lewisville, Texas and are interested in buying a Cottman Transmission franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Prosperity Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower COTTMAN TRANSMISSION SBA Loan Lender PROSPERITY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 4/11/2002 Loan Approval Gross Amount $130,300 Loan Approval from the SBA Of the total $130,300 loan amount, the SBA guaranteed $110,755. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We've showcased information on this loan to let you know that businesses like yours 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 7A Banks in El Campo, Texas
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