Wells Fargo Bank Gives Small Business Loan to Automotive Body, Paint, And Interior Repair And Maintenance Company

Bank loans in Texas are hard to find these days. We take a look at one Texas bank loan, provided by a Texas bank, that was approved by the SBA.

By giving the right information to Wells Fargo Bank, this Spring, Texas business was able to get an SBA loan. To get this loan, the entrepreneur 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 BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
SPRING, TX 77386

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$68,800

Loan Approval from the SBA

Of the total $68,800 loan amount, the SBA guaranteed $34,400.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Getting a Small Business Loan

Good Banks for Small Business in Austin, Texas

Where to Get an SBA Loan Texas