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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Dallas, Business Loans > Equity Bank, Ssb Dallas Business Loans > Automotive Repair And Maintenance Loan | ||||
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How to Get SBA Money in Scroggins, Texas
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Scroggins, Texas Entrepreneur Gets a Business LoanTexasSBA loans are available to Texas entrepreneurs through the SBA. In this case, a Texas bank provides the loan. By giving the right information to Equity Bank, Ssb, this Scroggins, Texas business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE SBA Loan Lender EQUITY BANK, SSB This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811198 - Automotive Repair and Maintenance Loan Approval Date 11/7/2002 Loan Approval Gross Amount $75,500 Loan Approval from the SBA Of the total $75,500 loan amount, the SBA guaranteed $64,175. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Find an SBA Lender in Dallas, Texas
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