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November 14, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > San Antonio, Business Loans > Broadway National Bank San Antonio Business Loans > Cottman Transmission Center Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Broadway National Bank Provides SBA Loan to Buy Cottman Transmission FranchiseNeed money to invest in a Cottman Transmission franchise? Broadway National Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in San Antonio, Texas needed money to invest in a Cottman Transmission franchise back in 2001. Broadway National Bank issued an SBA franchise loan. Here are the details on this Texas small business loan. SBA Loan Borrower COTTMAN TRANSMISSION CENTER SBA Loan Lender BROADWAY NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 5/29/2001 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $90,000 loan. Remember, things become real when you believe you can achieve them! 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: Role of Business Plan When Raising Money SBA Banks in San Antonio, Texas
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