Texas Entrepreneur Secures Financing to Buy Cottman Transmission Franchise

Borrowing 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.

Getting money to buy a Cottman Transmission franchise requires some effort but others before you have been successful. In 2001, Broadway National Bank issued an SBA franchise loan to an entrepreneur in San Antonio, Texas. Because Cottman Transmission was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

COTTMAN TRANSMISSION SYSTEMS
SAN ANTONIO, TX 78213

SBA Loan Lender

BROADWAY NATIONAL BANK
1177 NE LOOP 410
SAN ANTONIO, TX 78209

This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

7/18/2001

Loan Approval Gross Amount

$152,431

Loan Approval from the SBA

Of the total $152,431 loan amount, the SBA guaranteed $114,323.

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 only one employee. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Broadway National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Cottman Transmissions

Banking Deregulation's Effects on Entrepreneurship

SBA 7A Banks for San Antonio, Texas Loans

SBA Lenders in Texas