Terrell, Texas Business Gets SBA-Guaranteed Funding from Pilgrim Bank Texas

Pilgrim Bank Texas has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Terrell, Texas was able to borrow $784,000 from Pilgrim Bank Texas. The SBA made the loan possible by guaranteeing $588,000 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
TERRELL, TX 75760

SBA Loan Lender

PILGRIM BANK TEXAS
1404 S BROADWAY
SULPHUR SPRINGS, TX 75482

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

11/1/2004

Loan Approval Gross Amount

$784,000

Loan Approval from the SBA

Of the total $784,000 loan amount, the SBA guaranteed $588,000.

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 8 employees. The loan application did not indicate that the business 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pilgrim Bank Texas 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.

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