Comerica Bank Gives Business Loan to Automotive Transmission Repair Company

Want a California business loan? This California entrepreneur got a business loan, provided by a Texas bank that works with the SBA to help small business owners.

Getting a small business loan in Napa, California was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR
NAPA, CA 94559

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

12/28/2000

Loan Approval Gross Amount

$504,000

Loan Approval from the SBA

Of the total $504,000 loan amount, the SBA guaranteed $378,000.

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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Napa CA, you ought to talk with a local Napa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Napa businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Comerica Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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