SBA Loan from Comerica Bank Helps Automotive Exhaust System Repair Company
An SBA loan from Comerica Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Novato, California business owner got a $523,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Novato, California was able to borrow $523,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $392,250 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR
NOVATO, CA 94945
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
811112 - Automotive Exhaust System Repair
Loan Approval Date
8/29/2001
Loan Approval Gross Amount
$523,000
Loan Approval from the SBA
Of the total $523,000 loan amount, the SBA guaranteed $392,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
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Where to Get an SBA Loan Texas