Where to Get Capital for Automotive Repair and Maintenance

Looking for small business loans for automotive repair and maintenance? The SBA may be the answer. This $126,000 automotive repair and maintenance loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Texarkana, Texas was able to borrow $126,000 from Comm. National Bank - Texarkana. The SBA made the loan possible by guaranteeing $107,100 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
TEXARKANA, TX 75503

SBA Loan Lender

COMM. NATIONAL BANK - TEXARKANA
5515 SUMMERHILL RD
TEXARKANA, TX 75503

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

12/11/2002

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 28 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds 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.

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.

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SBA 7A Lenders in Texarkana, Texas

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