Tyler, TX Entrepreneur Gets SBA Loan to Buy Cottman Transmission Franchise

Need a loan to buy a Cottman Transmission franchise? Citizens 1st Bank has a history of making these loans and they are guaranteed by the SBA.

Cottman Transmission franchise loans are available to Tyler, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens 1st Bank, based in Tyler, Texas, issued an SBA franchise loan for a Cottman Transmission franchise in 2001. We've got all the details on this Texas small business loan.

SBA Loan Borrower

COTTMAN TRANSMISSION
TYLER, TX 75701

SBA Loan Lender

CITIZENS 1ST BANK
2001 E SOUTHEAST LOOP 223
TYLER, TX 75703

This lender issued this SBA loan under the SBA's 7A loan, 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

7539 - Automotive Repair Shops

NAICS Code

811113 - Automotive Transmission Repair

Loan Approval Date

5/8/2001

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Tyler TX, you ought to talk with a local Tyler SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tyler businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, if it to be, it is up to me!

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:

Cottman Transmissions

Business Cash Advances

Small Bank Loans in Tyler, Texas

Texas SBA Banks