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November 15, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > United Central Bank Houston Business Loans > Maaco Auto Painting & Bodywork Loan | ||||
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Texas Small Business Funding for Franchises
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Texas Entrepreneur Secures Financing to Buy Maaco Auto Painting Center FranchiseBorrowing money to buy a Maaco Auto Painting Center franchise? United Central Bank has a history of making these loans and they are guaranteed by the SBA. Maaco Auto Painting Center franchise loans are available to Sugarland, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, United Central Bank, based in Houston, Texas, issued an SBA franchise loan for a Maaco Auto Painting Center franchise in 2002. We've got all the details on this Texas small business loan. SBA Loan Borrower MAACO AUTO PAINTING & BODYWORK SBA Loan Lender UNITED CENTRAL BANK This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 9/11/2002 Loan Approval Gross Amount $38,000 Loan Approval from the SBA Of the total $38,000 loan amount, the SBA guaranteed $32,300. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Maaco Auto Painting Center franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Central Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Houston, Texas
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