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December 18, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Granbury, Business Loans > Community Bank Granbury Business Loans > Automotive Oil Change And Lubrication Shops Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Financing for Automotive Oil Change and Lubrication ShopsWith these commercial loans for automotive oil change and lubrication shops, the SBA guarantees the lender that the loan will be repaid. This automotive oil change and lubrication shops loan for $1,000,000 was given to a Texas entrepreneur in 2005. Getting a small business loan in Rockwall, Texas was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Community Bank, operating out of Granbury, Texas. Here are the details on this Texas small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender COMMUNITY BANK 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 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 11/18/2005 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $750,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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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