Automotive Transmission Repair Commercial Loans

Looking for commercial loans for automotive transmission repair? Try the SBA. This $950,000 automotive transmission repair loan was issued by a South Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Plano, Texas was able to borrow $950,000 from Transamerica Small Business Capita. The SBA made the loan possible by guaranteeing $712,500 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SHOPS
PLANO, TX 75074

SBA Loan Lender

TRANSAMERICA SMALL BUSINESS CAPITA
220 N MAIN ST, STE 604
GREENVILLE, SC 29601

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.

SIC Code

7537 - Automotive Transmission Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

2/29/2000

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 Transamerica Small Business Capita 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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