SBA Loan from Peoples Bank Helps Automobile Driving Schools Company

An SBA loan from Peoples Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lubbock, Texas business owner got a $55,000 loan.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Peoples Bank, out of Lubbock, Texas. The loan was granted and they received $55,000 to help grow their Lubbock, Texas business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOBILE DRIVING SCHOOLS
LUBBOCK, TX 79424

SBA Loan Lender

PEOPLES BANK
5820 82ND ST
LUBBOCK, TX 79424

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611692 - Automobile Driving Schools

Loan Approval Date

3/28/2007

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

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 10 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

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SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Lubbock or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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